Will Nevada Harness the Cannabis Business in Casinos?

LAS VEGAS — In an attempt to understand whether the cannabis industry can be tapped to bring about millionaire income to the state, Nevada watches as a specialized commitee tries to reach a formal decision on the controversial topic.  

Amidst the economic estimations, Gov. Brian Sandoval’s Gaming Policy Committee aspires at having committee recommendations for possible regulations by February, and shortly host conventions and trade shows on marijuana at the state's casinos. 

The 12-member committee ended its meeting Wednesday without a formal decision on the matter, but Sandoval said he hopes to have committee recommendations for possible regulations by February.

Even when the historical fear of legal backlash on the part of the Nevada Gaming Commission, as well as opposition from the committee members have also voiced play a major setback to the debate, events like MJBIZCon -a conference on the aspects and complexities of the cannabis industry- have drawn the attention of the gambling industry due to their strong turnout.

Cassandra Farrington, who started the conference, told the committee that the event brought about 18,000 people to the Las Vegas Convention Center last month and the figure is only expected to grow. She noted that marijuana products were not allowed on the show floor and as such people who violated that rule would be expelled.

"Trade shows like Farrington’s conference can generate millions of dollars in tax revenue", prompted Deonne Contine, the director of the Nevada Department of Taxation. Contine told the committee that a show with about 15,000 people can produce a $28.2 million economic impact on the city.

On the opposite front, Attorney Brian Barnes stated that any marijuana business in gambling facilities could be considered racketeering or money laundering under current federal regulations. “Marijuana business is illegal under virtually every aspect of federal law,” Barnes added.