Nevada officials and gambling firms to discuss cannabis industry

In late September, Nevada Governor Brian Sandoval announced that he was resurrecting the dormant committee to tackle the issue.

The federal government still considers marijuana a banned substance, so Nevada gaming regulators have told casino operators not to get involved with the industry at this time. That means currently there are no dispensaries or smoking lounges in Las Vegas casinos and no marijuana-related conventions at the casino complexes.

The purpose of the high-stakes meeting will be to “gather information, engage in discussion, and provide recommendations on policies related to the potential interactions” between casino licensees and the cannabis industry.

“Gaming regulators have been clear on the prohibition of marijuana consumption on licensed gaming properties but there are additional policy considerations such as industry events and business relationships that should be contemplated,” Sandoval said in a statement.

In addition to Sandoval, the meeting will include the likes Gaming Control Board Chairman A.G. Burnett, Gaming Commission Chairman Tony Alamo, MGM Resorts CEO Jim Murren, Boyd Gaming CEO Keith Smith and Golden Gaming CEO Blake Sartini.

The group must deliver a report of its findings by mid-June of next year.

Clark County currently has 47 licensed “adult-use marijuana” dispensaries, according to the Nevada Department of Taxation. There were US$ 27.1 million in sales statewide during July, the first month Nevada had recreational marijuana after voters approved it the previous year.

Sandoval announced that the Gaming Policy Committee would meet sometime before the end of the year about a week prior to the revenue numbers becoming public.

While the federal government is unlikely to change its legal stance on marijuana, the upcoming U.S. Supreme Court hearing over sports betting could have ramifications for the booming U.S. cannabis industry. The case could be a watershed moment on states’ rights, meaning that the marijuana business would be bolstered in states that make it legal.