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This City Looks to Become the ‘New Amsterdam’

Ryan Allway

May 17th, 2019

App, Policy

Las Vegas will become one of the few municipalities in the country to license cannabis consumption in lounges — a move that could transform the city into the ‘New Amsterdam’.

The Las Vegas City Council recently approved an ordinance that authorizes the so-called ‘social use venue’ licenses.

Under the new ordinance, existing licensed cannabis businesses may apply for a new $5,000 per year license to open a social use lounge. These establishments must be physically separated from cannabis retail locations, may not sell alcohol, and must be located at least 1,000 feet from schools and casinos. Entry is limited to patrons over the age of 21 and cannabis consumption is not permitted outside or in the public view.

Acres Cannabis, which operates a 19,000 sq. ft. store, plants to open a nearby consumption space featuring a concert hall and full-service kitchen. Councilman Bob Coffin, who sponsored the ordinance, believes that many cannabis businesses will open lounges adjacent to their retail locations.

Many casino operators are worried about the new industry, which isn’t permitted near casino properties. New cannabis lounges could draw the city’s millions of tourists away from casinos and hotels, where they traditionally spend most of their entertainment time and money. For now, the Nevada Gaming Control Board has warned that casinos friendly to cannabis users could lose their licenses.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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