Planet 13 Holdings Inc (CSE:PLTH, OTCQX:PLNHF) has applauded the Nevada Cannabis Compliance Board’s decision to approve regulations on the licensing and operation of cannabis consumption lounges.
The company said it intends to apply for a lounge license and expects to be successful.
"Our location close to the Las Vegas strip is ideal for a cannabis consumption lounge and we look forward to converting Trece restaurant to a full-service lounge to host our visitors in a first of its kind, exciting environment characteristic of the Planet 13 experience," Bob Groesbeck, co-CEO of Planet 13 said in a statement.
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"By converting our existing restaurant, we can quickly build a world class lounge in a cost-efficient manner and begin to serve customers sooner."
Planet 13 said the initial plan is to convert its Trece restaurant space to a consumption lounge, restaurant and entertainment experience.
Trece is currently an approximately 4,500 sq. ft. restaurant permitted for occupancy of up to 388 people. The planned conversion would allow onsite consumption under the Nevada regulations approved on June 28, 2022.
The Planet 13 Entertainment Complex will be the first of its kind space where a consumer can watch products being made, purchase and consume all under one roof. "A true luxury, tourist-friendly lounge close to the Las Vegas Strip," the company added.
Planet 13 is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations in Las Vegas and in Orange County, California.
Contact the author at jon.hopkins@proactiveinvestors.com