Planet 13 Holdings Inc. PLNHF PLTH received the Nevada state consumption lounge license. The approval by the state of Nevada comes after receiving the prospective license in December 2022 from the Nevada Cannabis Compliance Board.
"Receiving this confirmation from the state allows us to move on to the final design and buildout of our consumption lounge," stated Larry Scheffler, co-CEO of Planet 13. "The consumption lounge will be a huge step to unlocking the full potential of the SuperStore as a cannabis destination. It will give customers the ability to try products prior to buying, watch live entertainment, and enjoy food and drink in a social setting that matches Planet 13's incredible experiential design standard."
The consumption lounge will have space for live entertainment and will be able to be booked for private events, brand launches, and other unique events. The addition of the lounge is consistent with Planet 13's stated strategy of continuing to build the Las Vegas SuperStore into a one-of-a-kind cannabis destination where consumers can watch cannabis products being made, can purchase products and can consume all under one roof. The additional attractions, stores, entertainment, and events increase the utilization of the SuperStore facility, drives additional traffic, and improves margins.
Construction of the consumption lounge is expected to be finished in Q1 2024, pending final county-level approvals.
Photo: Benzinga edit with photo by Matthias Zomer on Pexels and squarefrog on Pixabay
Related News
Presidential Cannabis Launches Products In Arizona, Michigan, Nevada And Oklahoma
Planet 13 Reports Q1 Loss, Strong CA Sales Offset Seasonal Decline, Hangs On To Nevada Market Share
Lil' Kim And Priscilla Vilchis Launch New Cannabis Brand Aphrodisiak In Las Vegas
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!