Green Thumb To Launch Fourth Las Vegas Store, Expands Nevada Presence

Cannabis cultivator and retailer Green Thumb Industries GTII GTBIF disclosed Tuesday the opening of its fourth Essence location in the Las Vegas area.

Essence South Rainbow, scheduled to debut on May 13, is Green Thumb’s 44th store in the country. The store is located at 7260 South Rainbow Boulevard.

“We are thrilled to open the fourth Essence store in the Las Vegas area, and the first new Essence location since the latest round of license awards,” GTI Founder and CEO Ben Kovler said in a statement.

The company employs curbside pickup service and has upgraded its delivery infrastructure to provide Nevada’s customers with access to quality cannabis, said Kovler.

“Our team has continued to show incredible resolve and commitment through the ongoing COVID-19 crisis as demonstrated by this retail opening, our third since the crisis began.”

Nevada will witness seven new locations in the near future. At the same time, California will be richer for an additional two stores in Pasadena and West Hollywood, as stated on the Essence’s website.

The Chicago-headquartered company also owns RISE dispensaries, spread across eight states including Illinois, Florida, Maryland, Massachusetts, New Jersey, Ohio, Pennsylvania and Nevada.

Earlier this year, the company expanded its footprint in Illinois by opening its seventh store. The new store, Rise Quincy, was the second adult-use only store to open in the state, following the legalization of recreational cannabis on Jan. 1.

Established back in 2014, Green Thumb operates in 13 manufacturing facilities, out of which, three are in Nevada.

It manufactures five branded products named Cannabiotix, Desert Grown Farms, Dogwalkers, incredibles, and Rhythm.

The stock was up 0.68% at $7.44 at the time of publication Tuesday.