Owners of 245 dispensaries around the state reported combined first week retails sales were around $11 million. That’s a ton of green for Oregon’s legalized weed.
First week sales more than double what Colorado’s first week sales were.
Oregon is the fourth state to allow recreational marijuana sales to adults over 21 years old. Tax revenue doesn’t even kick in for the state until some time in January, but it has state officials thinking their estimates were way too low.
Portland’s KGW broke the news about statewide recreational sales. In an interview with the station, Nectar on Sandy Boulevard said, “we’re seeing about 500 people a day.”
The Oregon Retail Cannabis Association told KGW the estimated sales from day one were roughly $3.5 million.
When Oregon voters approved the legalization of recreational marijuana sales, the state set an estimate of $9 million in tax revenue, however, the Oregon Retail Cannabis Association told them to buckle up, because it could be three or four times that.