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The Nevada Department of Taxation (NDOT) recently released sales and tax data from the state’s legal cannabis market for July 2021. Total retail sales moved higher after falling in May and June. Retail sales spiked sharply at the end of Q1 2021, jumping 32.6%, as Clark County started dropping COVID restrictions and tourism picked up quickly. Q2 saw smaller percent sales changes month-to-month, with July representing the first uptick in sales in three months, gaining 1.4% over the previous month to reach just over $93 million.
According to NDOT data, Nevada cannabis retailers generated the following monthly revenue figures in the most recent three months for which data is available. The sales numbers below include both retail sales of adult-use and medical cannabis.
Total July adult-use sales were $85.9 million, comprising over 92% of total sales. Medical sales were 8% of total July sales at $7.2 million. Year-on-year, July 2021 sales are up 19% over July 2020, a period during which the coronavirus caused a drop in Las Vegas tourism. Wholesale cannabis tax collection was $5,457,948 in July, down slightly from the $5,535,097 June figure.
The Las Vegas Convention and Visitors Authority shows an 11.2% increase in visitor volume from June to July 2021 and, at 3.3 million, the highest monthly visitor count this year. July visitor count is up 130% year-on-year. Virus-related restrictions have proven a moving target. As of October 1, 2021 a statewide mask mandate is back in place. Although Nevada does not break out local versus tourist sales, local demand increased during the pandemic, helping to push February sales over $90 million ahead of tourists returning.