LAS VEGAS ( KLAS ) — Finding eligible businesses for Nevada’s social equity cannabis lounge licenses has proved a challenge, but the state on Thursday issued six prospective licenses determined by a lottery, according to the Nevada Cannabis Compliance Board.
Two companies were named, but four other licenses went to winners that did not consent to being identified. The two named winners were Kora Cannabis Lounge, LLP, and Nevada Consumption Lounge LLC.
Kora Cannabis Lounge lists an address in the Smith’s shopping center on the southeast corner of Maryland Parkway and Sahara Avenue. Nevada Consumption Lounge is located in a retail center on S. Rainbow Boulevard at Oquendo Road in the southwest valley. Location information for the four unnamed winners was not immediately available.
The lottery is used to choose among applications that have been submitted to the state. When Nevada initially awarded 10 social equity licenses, six of those winners were found to be ineligible because they did not meet residency requirements. The application fee — $2,500 — will be returned to those who didn’t win a license in the lottery.
The social equity licenses — 10 out of the total of 40 licenses the state made available — are meant to level the playing field for minorities to get into the business. The category favors applicants who were punished under old cannabis laws. Nevada and other states recognized the barriers to minority-owned businesses, but the effort to find qualified companies has again put minorities behind in the industry.
The first cannabis consumption lounge opened on Feb. 23, 2024 — Smoke and Mirrors, attached to Thrive Cannabis Marketplace at 2975 S. Sammy Davis Jr. Dr. behind Resorts World.
Smoke and Mirrors was awarded a retail license , which carried a $10,000 nonrefundable application fee .
For the six lottery winners announced on Thursday, there’s a lot of ground to make up as other lounges open up. It has been a slow process that began with voters’ approval in 2016. Regulations have been adjusted to loosen the rules on ventilation, and the new license holders will at least benefit from the lessons learned by their predecessors.
The six winners were chosen from a pool of only eight applicants.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to KLAS.
Local Nevada State
Most Popular
Comments / 0