New York's Cannabis Market Expands As Officials Successfully Crack Down On Illegal Sales
As New York City's ‘Operation Padlock To Protect' gains momentum as Governor Kathy Hochul and NYC Mayor Eric Adams recently announce that more than 1,000 illicit cannabis stores have been shut down, boosting sales in the legal market.
Hochul recently celebrated the opening of the 150th Adult-Use Retail Dispensary (CAURD), The Robinson's Dispensary in Albany. That number includes storefronts and temporary delivery-only (TDO) locations open and operating statewide.
"New dispensaries continue our mission of strengthening our legal market while at the same time helping to push out the bad actors who skirt our laws and undermine all we are trying to accomplish," Hochul said last week.
Meanwhile, cannabis giant Curaleaf Holdings, Inc. CURA CURLF opened a new retail location at 532 Chili Ave in Rochester on Friday, July 26. Curaleaf Syracuse, located at 4141 South Salina St, Syracuse, NY 13205, will open in the coming weeks, pending regulatory approval, the company recently confirmed.
RISE Dispensaries, a cannabis retail chain owned by Green Thumb Industries Inc. GTII GTBIF is opening RISE East Syracuse, located at 6701 Manilus Center Road, on Friday, Aug. 2. The new East Syracuse location marks five RISE Dispensaries open in New York and 97 nationwide.
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Other States Are Keeping Up
Verano Holdings Corp. (Cboe CA: VRNO) VRNOF opened Zen Leaf Fairless Hills in Pennsylvania on Friday, July 26, following a ceremonial ribbon cutting. Zen Leaf Fairless Hills is located at 203 Lincoln Highway.
Trulieve Cannabis Corp. TRUL TCNNF is opening a new medical cannabis dispensary in Ocala, Florida on Friday, August 2. The medical cannabis giant will open doors of the new retail location at 9070 SW State Rd 200. Trulieve has financially supported the recreational marijuana initiative, known as Amendment 3, with nearly $55 million over two years.
Simply Pure Dispensary, opened in Trenton at 1531 N Olden Ave in Ewing, New Jersey on Saturday, July 27. Simply Pure Trenton is one of the first black-owned social equity businesses awarded an adult-use cannabis license in the Garden State.
Vertically integrated multi-state cannabis operator Greenlight recently opened its new shop at 105 Speedy's Dr in Rock Port, Missouri. The Rock Port dispensary is Greenlight’s 16th location statewide.
Market 96, a Blounts&Moore minority-owned dispensary with an industry-leading customer experience, recently kicked off cannabis sales at its newest Illinois location in Chicago's South Loop at 529 S Wells Street. After entering the market in suburban Oswego last year, this is their second location in the state. Illinois is about to welcome a slew of cannabis entrepreneurs, experts and executives this fall at the 19th Benzinga Cannabis Capital Conference in Chicago on Oct. 8-9.
Canada's Cannabis Retail Giant Expands
High Tide Inc. HITI HITI 2LYA announced recently that its Canna Cabana retail cannabis stores had kicked off sales on Thursday, Aug. 1. The shop is located at 20 Douglas Woods Dr. SE Calgary, Alberta, 3630 Brentwood Road NW Calgary, Alberta ,1729 Walkley Rd, Ottawa, Ontario, and 94 Highway 8, Stoney Creek, Ontario. This bring the number of Canna Cabana branded retail locations Canada-wide to 180, including 65 stores in the province of Ontario.
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