You are here
Planet 13: Newly Public, Set to Make Cannabis a Vegas Feature Attraction -- CFN Media
SEATTLE, July 03, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering Planet 13 Holdings Inc. (CSE:PLTH) (CNSX:PLTH) (PLTH.CN) and its development of the Planet 13 Superstore, planned to open just off the Strip in Las Vegas on November 1, 2018. With Nevada legalizing adult-use cannabis in 2017, the millions of tourists who visit Las Vegas each year have another option on a large menu of things to see and do in the city. But how does a dispensary, for instance, stand out amongst all of the glitz and glamour competing for tourists’ attention? Designed to be an interactive entertainment experience that appeals to both cannabis aficionados and the general public, the Planet 13 Superstore leverages the company’s existing cultivation, production, and retail operations to create a true Las Vegas attraction.
What Planet 13 Has Now
One thing that sets Planet 13 apart from many other public cannabis companies is existing revenue, to the tune of $9 million in 2017 with EBITDA of $1.6 million. The company operates an award-winning dispensary in Las Vegas that sees over 700 customers per day. The 2,300-sf dispensary is licensed for medical sales under the Medizin brand, and for recreational sales under the Planet 13 brand.
Planet 13 also holds two cultivation licenses in Nevada. One is for a ~15,000-sf facility in the Vegas area that currently produces about 2,100 pounds of cannabis per year. The other covers a small R&D operation in Nye County. It sits on 80 acres of land owned by the company and has the potential to house up to 2.4 million sf of greenhouse capacity. The two cultivation facilities are additionally licensed for production, with the Vegas site turning out oils and extracts for the company’s own product lines. Planet 13 has garnered several top 3 finishes for its strains over the last few years at the IC Mag 420 Cup.
The Planet 13 Superstore
With its business model established and proven, Planet 13 is looking to up its game considerably with the new superstore. Groundbreaking is scheduled in July and the initial 40,000-sf phase of the store is set to open November 1, 2018.
Las Vegas does not allow dispensaries on the Strip, but this location is about as close as you can get. Located just off the Strip, less than a 10 minute walk from the Wynn Hotel’s front entrance located in the heart of the strip, the Planet 13 Superstore is in a prime position to attract foot traffic. About 65,000 hotel rooms overlook the spot, and the store will also be easily visible and accessible from Interstate 15.
Planet 13 plans to make the store highly visible and attractive. The company is spending over a million dollars on special effects, with a huge interactive LED floor, laser graffiti walls and giant electric interactive lotus flowers on the roof. In the end, the Planet 13 Superstore will be the world’s largest cannabis entertainment complex. In short, the company is giving cannabis the full Vegas treatment with all the glitz and glamor tourists have come to expect.
There is much more to cover with Planet 13, including the unique and essential local experience of the executive team, the company’s plans to diversify its revenue streams through merchandising, its online ordering system, etc. For now, just know that big things are afoot in Las Vegas, and the city’s 55 million annual visitors will soon have a one-of-a-kind cannabis attraction to add to their list of must-sees. Planet 13 is about to transform the dispensary experience on a galactic scale.
Please follow the link to read the full article: http://www.cannabisfn.com/planet-13-newly-public-set-make-cannabis-vegas-feature-attraction/
About CFN Media
CFN Media (CannabisFN) is the leading agency and financial media network dedicated to the global cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Since 2013, private and public cannabis companies in the US and Canada have relied on CFN Media to grow and succeed.
Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany
Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8
Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com
CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/