Notable Players

A Deeper Look At This State

Regulatory Framework

Nevada voters passed the Regulation and Taxation of Marijuana Act by ballot initiative in 2016. The Act legalized the purchase, possession, and consumption of adult-use cannabis for adults 21 and older.

In June 2021, Governor Steve Sisolak (D) signed into law Assembly Bill 341 allowing cannabis consumption lounges in the state, making Nevada one of nine states that permit on-site consumption of recreational cannabis.

Only the owner of a licensed adult-use store is eligible for a retail cannabis consumption lounge license – one person cannot hold both retail and independent cannabis consumption lounge licenses.

At least half the licenses issued to independent cannabis consumption lounges must be awarded to social equity applicants.

Notable Market Activity

October 2022 | Curaleaf closed the acquisition of Tryke Companies for $180MM versus the originally announced ~$300MM purchase price

May 2022 | MJ Harvest announced acquisition of Cannabis Sativa for $13MM

April 2022 | Jushi completed its acquisition of NuLeaf for $62.5MM

February 2022 | Flower One Announced $10.1MM in financing and successful loan modification to term debt

September 2021 | Akerna acquired 365 Cannabis for $25MM

September 2021 | Jushi signed a definitive agreement to acquire Apothecarium dispensary

July 2021 | Verano Holdings announced its acquisition of Sierra Well for $29MM

January 2020 | Curaleaf acquired Acres Cannabis

June 2019 | GTI acquired Integral Associates

Contact Sharp to discuss additional transaction details

What's the Play?

Multiple public MSOs have operations in the Las Vegas market already, but investors should be wary of backing Nevada operators unless a Las Vegas foothold is integral to a broader multi-state strategy. With roughly 100 retail stores open for less than $80MM in monthly revenue, the Las Vegas market is primed and ready for acquisition.

Market Snapshot

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

594/273

By The Numbers

Population

~3.2MM

21+ Population

~2.4MM

Annual Tourists

~
56
MM

Medicinal Legalization

2000

Adult-Use Legalization

2016

First Adult-Use Sales

2017

MMJ Patients

~13K

Monthly Revenue

~$71.6MM

Cultivation Cap

No Limit

Cultivation Licenses

254/No Limit (Operational/Limit)

Retail Licenses

111/166(Operational/Limit)

Retail License Cap per Operator

No Limit

Vertical Integration

Allowed

Delivery

Allowed

MMJ Qualifications

Less Restrictive

Adult Population/ # Retail Licenses

~21.6K

Accepts Out of State MMJ

Yes

MMJ Patients / # Retail Licenses

Top Cultivators

Notable Market Activity

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Proprietary Sharp Capital Advisors data - compiled using various sources including state and local government data

Have questions? Reach out to the team

Co-Founder & CEO
West Palm beach
Co-Founder
WEst palm beach
Managing Director
Los Angeles
Shit We Don't Know

Have a tip about this state? Let us know!