Nevada marijuana sales could reach $550M annually

According to Marijuana Business Daily estimates, Nevada's recreational market could generate $75 million or more in sales this year and $450 million to $550 million annually down the road. Tourist spending is expected to account for a heavy portion of sales.

DENVER (AP) — Now that Nevada has approved an early start to recreational cannabis sales, existing medical marijuana companies in the state are readying for a burst of new business that could equate to tens of millions of dollars in additional revenue this year.

With Las Vegas alone drawing 40 million-plus visitors in 2016, the overall recreational cannabis industry is set to take another big step forward.

The early rollout will make Nevada the fifth state with an operational recreational market and the first to launch since last November's election, when voters in four states approved adult-use programs. Nevada will also be the first new recreational state to go...

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