Massachusetts Adult-Use Cannabis Sales Eclipse $2 Billion

High Times

Less than three years after the first licensed recreational marijuana retailers began doing business in Massachusetts, regulated cannabis dispensaries have rung up more than $2 billion in adult-use cannabis sales, state officials announced on Wednesday.  Shawn Collins, the executive director of the Massachusetts Cannabis Control Commission (CCC), reported that as of Tuesday night, regulated marijuana establishments had logged $2,009,007,478 in gross sales since the businesses first opened their doors on November 20, 2018. “This milestone speaks to the success of licensees that have interacted with the Commission from the application stage, maintained compliance with our strict regulations and contribute every day to communities across the Commonwealth,” Collins said in a statement from the agency.  “This number also underscores the entire agency’s tireless efforts, particularly those of our hardworking staff, to thoughtfully regulate a safe, accessible, and effective adult-use marketplace that keeps critical tenets of our mission—public health, public safety and equity, among others—front of mind.” The news comes less than one year after regulated, adult-use cannabis sales hit the $1 billion mark on November 3, 2020. During the first year of licensed sales (November 2018 through 2019), 33 marijuana retailers generated $393.7 million in gross sales. Sales for all of the 2019 calendar year amounted to $444.9 million, the agency reported.  In 2020, 91 adult-use cannabis retailers tallied $702 million in gross sales, despite being closed for two months due to the COVID-19 pandemic. Recreational marijuana dispensaries were designated as non-essential businesses by Massachusetts Governor Charlie Baker and ordered shuttered in March 2020 and then allowed to reopen the following May. Massachusetts now has 165 licensed adult-use cannabis retailers and three recreational marijuana delivery services. As of Wednesday morning, regulators reported that $844 million in gross cannabis sales have already been made since January 1, putting 2021 on pace to…

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Source : Massachusetts Adult-Use Cannabis Sales Eclipse Billion

reposted by Cannabis News World

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