Nevada marijuana sales blow away projections in first year – Zeeland Press

Exhale Nevada marijuana dispensary director of cultivation Abraham Ballantine checks one of the grow rooms at his Las Vegas facility, Thursday, June 28, 2018. K.M. Cannon Las Vegas Review-Journal Saenz helps customers at Exhale Nevada marijuana dispensary in Las Vegas, Thursday, June 28, 2018. K.M. Cannon Las Vegas Review-Journal

Nevada dispensaries sold nearly $425 million worth of recreational marijuana and pulled in nearly $70 million in tax revenue in the state’s first full year of sales, officials announced Tuesday.

Those numbers dwarf the sales numbers dwarf the first years seen in other states, and significantly outpaced projections for the budding industry.

For Nevada, the first year’s sales were about 60 percent higher than the state’s initial predictions of $265 million. And the $69.8 million the state collected from the combined taxes on marijuana was about $20 million more than state officials had predicted.

Colorado sold $303 million in adult-use marijuana in its first full year, while Washington sold $259 million and Oregon sold $241 million. The markets in Colorado and Washington have both grown substantially, with both states eclipsing $1 billion in recreational sales in 2017.

This is a developing story. Check back for updates.

Capital Bureau Chief Colton Lochhead at Follow on Twitter.

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