Nevada marijuana sales level off in September, concerning state senator
LAS VEGAS (KSNV News3LV) —
The high from recreational marijuana in Nevada is starting to level out.
Pot sales in the Silver State dipped for the first time since legal retail sales began on July 1. Despite the dip, sales are still ahead of the state’s projections.
“I just frankly anticipated it going up 10 percent a month maybe for the first year,” said Nevada State Sen. Tick Segerblom. “The fact that it’s leveled off already is a little bit scary.”
The Nevada Department of Taxation released the total sales of retail marijuana:
- July: $27 million
- August: $33 million
- September: $27 million
Still, pot sales are outpacing the state’s projections – and all that tax revenue is supposed to go toward schools.
Segerblom wants state lawmakers to revisit how that money is distributed.
“We need to look at having the revenue that's generated in each county stay in that county -- I'd say probably 90 percent of the revenue is being generated in Clark County. Why should we send that money upstate when some of those counties won't even accept marijuana?” said Segerblom.
Retail pot sales took a hit market-wide in September and again in the days following the Las Vegas mass shooting in October.
However, with expanded operational hours and more dispensaries coming online, industry experts say business is bouncing back.
“I think that’s a natural fluctuation in retail,” said Andrew Jolley, President of the Nevada Dispensary Association. “We see that in other industries, not just cannabis, so I’m not worried about it at all.”
Like so many other retail businesses in town, the cannabis business is also bracing for an influx of holiday visitors. Several dispensaries are planning Thanksgiving and Black Friday sales.
“It is a little surreal to think about doing Black Friday sales in a dispensary but we’re doing that and the community is super excited about that,” said Jolley.