Long-Awaited Planet 13 Vegas Superstore Opens November 1st, 2018
November 2nd, 2018
There is a new tourist destination in Vegas, the entertainment capital of the world.
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF) a leading vertically-integrated Nevada cannabis company with award-winning cultivation, production, and dispensary operations in Las Vegas, announced on Monday, Oct. 29, that it received the final site approvals necessary to open its long-anticipated Planet 13 Superstore on Thursday, November 1, 2018.
Located at 2548 West Desert Road, just off the famed Vegas Strip, Phase 1 of the 40,000 square foot Superstore will not only feature one of the world’s largest cannabis dispensaries – 16,500 square feet of retail space with 45 registers to handle the 2,000 plus anticipated daily visitors – but also a state-of-the-art, fully-interactive entertainment complex.
Visitors will be greeted by an 18-foot outdoor Planet 13-branded water feature outside the entrance, where sophisticated control panels will allow them to control the acrylic leaves of thirteen 15-ft. tall lotus LED flowers located on the roof and visible from the surrounding hotels.
The lobby’s grand hallway features sensory-activated LED floor panels which create an interactive show as visitors walk over them and once inside, they’ll be treated to a recurring, glowing aerial orb show above the dispensary. They can interact with an interactive art wall, where they can create unique written patterns and drawings, and marvel at a 3D Projection Visual Experience, with three-dimensional visuals projected onto the walls and ceiling of the dispensary space.
Planet 13 has partnered with PAX Labs, the leading vaporizer brand, to provide personal engravings of Pax products during its Superstore’s opening week. Nevada cultivators and suppliers have been clamoring to have their products showcased, and the company has entered into supply agreements with seven premium cannabis brands. It’s also been stockpiling inventory throughout October in anticipation of strong immediate demand. Product expansion is not limited to these brands, and Planet 13 will remain on trend by offering the highest-quality, in-demand, and exclusive brands, including its wholly-owned, award-winning Medizin branded products, from flower and concentrates to vape cartridges. Planet 13’s entire menu can be viewed on its website.
This is only Phase I of the Superstore, and planned expansions are expected to add a brewery, a coffee shop, food offerings, and a consumption lounge.
Since opening their doors in 2016, Planet 13 has earned a strong reputation for its helpful and knowledgeable staff, unique customer experience, and top quality cannabis product offerings. The current Medizin/Planet 13 joint medical/recreational dispensary, located at 4850 West Sunset Road, services nearly 750 customers per day, with an average purchase of $70. It has led to a monthly compound growth rate of 7.8% through July 31, 2018, revenue of $8.0 million in the first six months, and recently reported record revenues of $4.4 million for Q2 2018, with an adjusted EBITDA of $0.8 million.
Additionally, Planet 13 was recently announced as 10th on the list of the top US revenue generating public cannabis companies by the Public Cannabis Company Revenue Tracker. Due to the anticipated statewide increase in cultivation capacity, wholesale prices are expected to drop, while retail prices should remain around their current levels, driving potentially strong margins for investors in retail-oriented companies.
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