In Court, Witnesses Say License Holders Losing Millions as Nevada Cannabis Licensing Hearing Trudges Forward
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In Court, Witnesses Say License Holders Losing Millions as Nevada Cannabis Licensing Hearing Trudges Forward

Marijuana businesses in Nevada with dormant retail cannabis licenses are missing out on significant profits and the state is losing tax revenue.

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August 14, 2019

Marijuana businesses in Nevada with dormant retail cannabis licenses are missing out on significant profits and the state is losing tax revenue.

That is according to testimony on Tuesday from Thrive co-owner Phillip Peckman and former Essence co-owner Alex Yemenidjian during a cannabis license injunction hearing at the Regional Justice Center in Las Vegas.

“With time, effort, the money spent for two locations, development and buildout, leasing and all the fees, we’ve spent probably a couple million dollars,” Peckman said.

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