Las Vegas-Based Planet 13 Expands Retail Portfolio Into Illinois With Waukegan Dispensary

Las Vegas-based Planet 13 Holdings Inc. PLNHF recently inaugurated a new cannabis shop in Waukegan, Illinois, marking a strategic expansion in its retail portfolio.

The 4,000 sq. ft. Waukegan location is intentionally designed to offer an immersive and experiential approach to cannabis retail, mirroring the successful model of the company's flagship 112,000 sq. ft. SuperStore in Las Vegas, Nevada.

The Waukegan dispensary is strategically positioned just off Interstate 94, three miles south of Six Flags, in a rapidly growing shopping and entertainment district. Bob Groesbeck, Planet 13 co-CEO, emphasizes the significance of the prime location. “We have high expectations for this dispensary given our prime location (...) in a rapid growth shopping and entertainment district, with a nearby casino, and proximity to both Chicago and Milwaukee."

Operational seven days a week from 9 a.m. to 10 p.m., the store aims to serve a diverse customer base.

See Also: Despite $46M Q3 Loss, Planet 13 Responsible For $1 In Every $10 Of Cannabis Bought In Nevada

Planet 13's Ambitious 2023 Roadmap

In tandem with the Waukegan opening, Planet 13 is making headlines with plans for substantial expansion in Florida. The acquisition of VidaCann, encompassing 26 dispensaries, will elevate Planet 13's presence in Florida to a total of 30 locations.

See Also: Planet 13's Cannabis Superstore And Florida Expansion: Is A Merger In The Air?

Looking ahead, Planet 13 is actively exploring opportunities to establish larger SuperStores in major U.S. cities, aligning with its vision to replicate the success of the Las Vegas flagship and create a distinctive and widespread presence in the cannabis retail market.

Price Action

PLNHF’s shares were trading 8.83% down at $0.784 per share on Friday afternoon.

For deeper insights into Planet 13's performance, explore How Planet 13's Margins Weather the 3Q23 Cannabis Storm, Analyst Forecasts.

All images are courtesy of Planet 13 Holdings Inc.