Point Roberts, WA and Delta, BC – August 27, 2019 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot focusing on the recent developments occurring in the Nevada cannabis market as it matures and expands.
A recent news report discussing the potential of the Nevada market versus the California market mentioned, “a more intriguing metric offered in State of the Legal Cannabis Markets — spending per capita — suggesting that another state could blow California out of the water in terms of attractiveness to businesses and investors: Nevada.”
The article continued, “Between 2018 and 2024, Arcview and BDS are forecasting that Nevada’s population will increase by about 10% to 3.4 million. Yet, with the Silver State opening its doors to recreational marijuana sales in July 2017, total legal spending is expected to surge from $567 million in 2018 to $1.41 billion by 2024. On a per-capita basis, this works out to $415.57 in spending. That’s more than double California ($172.08), and is higher than every other state in the country. It’s no secret that Nevada’s exceptionally high spending per capita forecast stems from the state’s strong tourism. Las Vegas is a core attraction for Americans and visitors from all over the world, which should allow cannabis companies to focus their attention on Sin City to drive sales and margins. Plus, Nevadans are faced with a combined 25% tax rate, including a 15% tax on wholesale sales, and 10% on retail sales. That’s significantly less than neighboring California, which should help reduce illicit production.”
Assuming Arcview’s and BDS Analytics’ projections prove relatively accurate, there are a number of ways to play the most lucrative market in the United States.
Global Payout Inc. (OTC: GOHE), through its Nevada based subsidiary MTrac Tech Corporation, provides electronic