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Nevada dispensaries celebrate industry growth on 4/20

April 20, or 4/20, a day celebrated by cannabis enthusiasts. For local dispensaries, it is also one of the busiest days of the year and a time to celebrate thei
Published: Apr. 20, 2022 at 9:17 PM PDT
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LAS VEGAS, Nev. (FOX5) - April 20, or 4/20, a day celebrated by cannabis enthusiasts. For local dispensaries, it is also one of the busiest days of the year and a time to celebrate their success.

Thrive Cannabis Marketplace in Southern Highlands held a “canna costume contest” with free cannabis for a year to the winner in the best 4/20 gear. Thrive, Nevada’s largest independent retailer, is one of 94 dispensaries now operating in the state and celebrating the growing industry on 4/20.

“We have seen a lot of growth and a lot of changes in a positive way,” said Makinzey Marracco, Director of Retail Operations for Thrive.

The industry has changed drastically since marijuana was legalized in Nevada back in 2017 and it’s about to change again.

“We are really excited for the consumption lounges, that is something that we have been putting a lot of focus into,” Marracco said.

Thrive shared renderings for a flagship store and consumption lounge now under construction. It will be located just off the Strip opening this summer, possibly by June.

“I think it is going to be really great for the tourists especially to have somewhere safe and legal to consume,” Marracco said.

Tourist have nowhere to legally consume marijuana. Consumption lounges will solve that problem. The new Thrive location will target the tourist market with one of the first consumption lounges in the state. The rules for consumption lounges are now being finalized.

Cannabis sales in Nevada reached a major milestone in fiscal year 2021 exceeding $1 billion for the first time despite pandemic challenges. The blossoming cannabis industry in Nevada still has plenty of room to grow with potentially dozens of consumption lounges set to open.

“We are ready, we are ready for it,” Marracco said.

For fiscal year 2021 in Nevada, the cannabis industry generated $159 million in tax revenue and fees funding K-12 education across the state.