Broomfield has suspended a lottery it was scheduled to hold this month to award three retail marijuana licenses after the county received “considerable feedback” about who was applying and whether they were playing by the rules. The pause, which the county announced last week, came after Terrapin Care Station sued Broomfield and a number of competing applicants, claiming that several contenders among the 26 who applied used multiple versions of the same corporate name while at least three contenders are directly related to one another. Related Articles Read the rest of this story on DenverPost.com.
A mad scramble is on in Broomfield to score a trio of coveted licenses to sell recreational marijuana, with 26 applicants jostling for a spot in a city that until now has banned all weed sales. One established cannabis company is crying foul, charging that the lottery system Broomfield will use this month to award the licenses is essentially rigged to raise the odds for some contenders — and the city is doing nothing about it. “They’re allowing various individuals to submit multiple applications into the lottery through various shell companies,” Jordan Factor, attorney for Terrapin Care Station, told The Denver Post. “We’re baffled.” Read the rest of this story on DenverPost.com.
Published: Aug 26, 2021, 6:29 am • Updated: Aug 26, 2021, 6:32 am By John Aguilar Aurora flung open the doors on the next — and perhaps final — frontier in the world of legal cannabis in Colorado, giving initial approval this week for smoking lounges, tasting rooms and tour buses filled with stoned customers. “I see this as a game-changer for the industry,” said Victoria Osler, an Aurora entrepreneur who plans to roll out a “party bus” called Dreamy Illusions, complete with a stripper pole, thumping music, strobe lights and, of course, mobile consumption. “You will be able to consume cannabis on the party bus,” she said. Read the rest of this story on DenverPost.com.
Published: Apr 20, 2021, 5:32 pm • Updated: Apr 20, 2021, 5:32 pm By Tiney Ricciardi A point-of-sale system powering Colorado dispensaries went down Tuesday on the biggest marijuana holiday of the year. Denver-based FlowHub said an outage caused by a third-party authentication service caused the service to crash on April 20, colloquially known as 4/20. It’s unclear how many dispensaries in the state have been affected and a company representative was not immediately available for comment. Read the rest of this story on DenverPost.com.
Published: Apr 7, 2021, 3:32 pm • Updated: Apr 7, 2021, 3:32 pm By Kieran Nicholson A 10-year moratorium on marijuana sales has been overturned by voters in Grand Junction. On Tuesday voters handily approved ballot questions 2A, Taxation on Regulated Marijuana, and 2B, Lifting Moratorium on Marijuana Businesses, according to voting results. On the 2A question: 9,235 voters said “yes”; with 7,309 voters casting a “no” vote. On the 2B question: 9,755 voters approved, with 7,055 voters disapproving. Read the rest of this story on DenverPost.com.
Published: Mar 11, 2021, 11:49 am • Updated: Mar 11, 2021, 11:51 am By Tiney Ricciardi Colorado’s marijuana industry hit a milestone in January, topping $10 billion in sales since the legal market got off the ground in 2014. Cannabis consumers purchased $151,734,324 in recreational products and $35,869,373 in medical products during the first month of the year, for a total $187,603,697, according to sales figures released by the Department of Revenue this week. While sales remained flat from December to January, they increased significantly year over year — up 34.8% compared to the same period in 2020. Read the rest of this story on DenverPost.com.
Published: Feb 9, 2021, 12:12 pm • Updated: Feb 9, 2021, 12:12 pm By Tiney Ricciardi Despite a global pandemic that disrupted many facets of commerce, Colorado’s marijuana industry experienced its most lucrative year on record with $2.2 billion in sales in 2020. According to figures released Tuesday by the state Department of Revenue, dispensaries sold $186,343,208 in cannabis products in December, up 6.4% compared to the previous month. The state collected nearly $32.4 million in taxes and fees in December, pushing the annual tax total to $387.4 million in 2020. Read the rest of this story on DenverPost.com.
Colorado marijuana sales in November pushed the industry’s annual revenue to $2 billion for the first time. In November, dispensaries sold $175.1 million worth of products, according to figures released by the Department of Revenue on Tuesday. Recreational sales accounted for about $140.5 million, while medical sales accounted for nearly $34.7 million, the agency reported. While the total is down about 12% compared to the month prior, it was enough to help Colorado hit yet another financial milestone in an already banner year for cannabis. From January through November 2020, consumers purchased slightly more than $2 billion, the Department of Revenue reported. The previous year, dispensaries reached $1.75 billion in annual sales, a record at the time. Read the rest of this story on DenverP...
Colorado’s marijuana industry experienced a banner year in 2020 — not in spite of the COVID-19 pandemic, but because of it. Dispensaries across the state were declared essential businesses and allowed to operate while bars, restaurants and gyms were forced to close. That designation helped sales exceed analysts’ expectations. According to Roy Bingham, co-founder and executive chairman of Boulder data firm BSDA, the national market grew more than 45% to $18 billion in 2020, outpacing forecasts by about $2 billion, an increase attributable to “the COVID effect.” Cannabis consumers shopped less frequently but purchased more, including many newcomers with increased at-home time on their hands, he said. Read the rest of this story on DenverPost.com.
Colorado dispensaries sold more marijuana in the first 10 months of 2020 than they did during a record-setting sales year in 2019. October sales totaled more than $199.7 million in October, pushing the state’s annual revenue to more than $1.8 billion, according to the Department of Revenue. By comparison, sales totaled about $1.75 billion in 2019, making this the highest selling year since recreational weed hit the market in 2014. Sales were poised to crush the record following several lucrative summer months, despite the ongoing coronavirus pandemic. Colorado hit an all-time monthly high in July with $226 million in sales. That was also the first time monthly totals surpassed $200 million. Read the rest of this story on DenverPost.com.
Published: Nov 16, 2020, 3:16 pm • Updated: Nov 16, 2020, 3:19 pm By Kieran Nicholson A former Aspen businessman sentenced to 12 years in prison has been ordered to pay nearly $2.5 million in restitution to four victims swindled in a black-market marijuana scheme. Scott Pack was sentenced to prison in July by Arapahoe County District Judge Michael Spear under the Colorado Organized Crime Control Act on a first-class drug felony conviction, as well as two counts of securities fraud. Arapahoe County District AttorneyScott Pack Read the rest of this story on DenverPost.com.
Weed enthusiasts purchased more than $206.4 million worth of Colorado-made marijuana products in September, as sales from a record-breaking year moderately cooled off. Recreational dispensaries sold $166,547,119 during the month, while medical dispensaries sold $39,941,149 for a combined $206,488,268 in revenue, according to data from the Colorado Department of Revenue. Sales decreased 5.5% compared to August, but are up 33% compared to September 2019 as marijuana experiences a banner year for sales despite the coronavirus pandemic. Read the rest of this story on DenverPost.com.