Canovate › Markets › NV › Las Vegas
Cannabis Market Brief

Las Vegas, NV

Las Vegas contracting 28% from peak as tourism premium evaporates; $540M annual opportunity from regulatory reform.

Market Snapshot

Market size
$758M Nevada FY2025 (down 8.6%); Clark County $567.6M
Dispensaries
70 operational in Las Vegas valley
Avg flower price
$5.11/g (May 2024); $7.50/g post-tax in Clark County/g

Key Competitors

Planet 13 (112K sq ft, 24/7)
Essence Tropicana
Thrive (5 locations)
NuWu (Paiute tribe, consumption lounge)
Jardin (celebrity meet-greets)

Demand Signals

38.5M visitors (2025, -7.5% YoY); tourism premium EVAPORATED (per-visitor spend down 31%); 4/20 dominant (+27%); Green Wednesday +56%; NYE +110%

Regulatory Notes

CCB: 10% excise + 8.375% sales; 2.5oz possession; consumption lounges legal; delivery to hotels/casinos PROHIBITED; 1,500-ft gaming setback

Campaign Ideas

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