Marijuana sales in Nevada continue to increase in the months since legalizing the substance. Around 44 dispensaries across Nevada were licensed to sell recreational weed starting July 1. Since then, Nevada has greatly surpassed other states in sales.
The RGJ reported that in July, dispensaries sold about $27.1 million worth of pot. These numbers were almost seven times of what Washington sold and around double of what Colorado and Oregon sold individually in their first few months of legalizing cannabis
According to the Nevada Department of Taxation, Nevada Marijuana sales have rocketed past expectations. In August, about $32.4 million was made in sales, which is $13 million more than what the state expected.
Jordan Gearey worked at Blum, a dispensary in Midtown, this past summer and was slightly surprised that Nevada, one of the smaller states to legalize recreational pot, outsold other states.
“I’m not surprised that it’s become very popular and caught on,” Gearey said. “It may be surprising that it surpassed other states, but I didn’t think that the Nevada populous would be as kind of weed culture as much as Colorado or Washington.”
According to News 4, since Nevada is a reciprocity state, anyone from out of the state is allowed to purchase weed as long as they are over 21. Thus, local dispensary owners credit the vast growth in sales to Nevada’s tourism industry.
In an interview with News 4, a representative from MYNT Cannabis in Reno, Stacy Castillo, said the holiday season is a great help in attracting consumers to the dispensaries.
“A lot of it plays into the tourist industry here,” Castillo said. “We have a lot of people coming in from out of town to just partake in the many events we have. It kind of fell right into events season for us and I think that was a big part of why we did so well.”
In Nevada, recreational marijuana is split into two taxes, a 15 percent wholesale tax, and a 10 percent retail sales tax. The Nevada Department of Taxation released figures that indicated that in August, the retail tax produced about $3.35 million, while the wholesale tax brought in approximately $1.51 million.
According to the Washington Times, the $4.86 million made in recreational marijuana taxes is nearly a million dollars more than the revenue made during the first month of sales.
The RGJ reports that Gov. Brian Sandoval believes that between the medical and recreational marijuana industry, Nevada could pull in approximately $100 million over the next two fiscal years from both taxes and fees.
In an interview with the Las Vegas Review-Journal, CEO of the Source dispensary, Andrew Jolley, claimed that his store averaged from 700 to 900 customers a day. These numbers are approximately three to four times as many customers as he received when he only sold medical marijuana.
“We’ve been very happy with the sales,” Jolley said. “This is a very turbulent industry, and it’s very difficult to predict anything. It was hard to know exactly what to expect.”
Karolina Rivas can be reached at email@example.com and on Twitter @karolinarrivas.