Planet 13 Confirms Consumption Lounge Win

The space is already planned and the building is to begin ASAP.

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) confirmed that its subsidiary MM Development Company, Inc. has received approval for a Nevada consumption lounge from the Nevada Cannabis Compliance Board. The Nevada CCB announced the winners of the consumption lounge lottery system last week as reported by Green Market Report. The state picked 20 independent lounge licenses for businesses looking to build out new facilities and sell product from other operators, with half of those licenses designated for social equity applicants. Social equity license winners have selected from a pool of 30 eligible applicants; non-social equity applicants had a pool of 49.

“We are thrilled to be moving forward with our plan to bring a world-class cannabis consumption lounge next to the Las Vegas Strip,” said Larry Scheffler, Co-CEO of Planet 13. “Planet 13 has always been about offering new and one-of-a-kind immersive experiences for customers. We look forward to once again pushing the envelope and expanding people’s minds about what cannabis can be.”

The Planet 13 said in its statement that the “Entertainment Complex” will be the first of its kind space where consumers can watch products being made, purchased, and consumed all under one roof. The company has been planning the tourist-friendly lounge long before ever receiving the license. While not on the main drag, it is close to the Las Vegas Strip and the company says it will “elevate the already incredible Planet 13 experience.” The initial plan is to convert Planet 13’s expansive Trece restaurant space into a consumption lounge. experience.

Strip Smoke

The addition of consumption lounges addresses the problem that was facing tourists – where to smoke the legal cannabis they had just purchased. The hotels did not allow cannabis to be consumed indoors and legally they weren’t allowed to smoke outside in public. That meant they needed a private place to consume, but if you’re a visiting tourist you didn’t have this option. That resulted in many people just taking the risk by smoking outside causing many non-consuming tourists to complain about the cannabis smell – despite cigarette smoking being allowed inside casinos.

The other issue facing cannabis-consuming tourists in Vegas is that none of the dispensaries are located on the Strip. The casinos fought that battle and won. However, now those cannabis tourists will be leaving the strip to make a purchase and in the case of Planet 13, likely remain to consume, eat and generally hang out longer. Meaning less time to gamble.

 

 

Debra Borchardt

Debra Borchardt is the Co-Founder, and Executive Editor of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Master's degree in Business Journalism from New York University.


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