Until now, many of the large, public multi-state operators have kept their distance from the country’s largest REC market. California is an expensive place to operate, and it hasn’t offered major operators the same kind of return on investment as smaller and more stable markets.
That’s no longer the case any more. Willis Jacobson writes:
“When REC sales became legal in 2018, many newly licensed operators saw razor-thin profit margins and had to contend with high taxes and a hypercompetitive climate still dominated by illegal operators. But now, the industry’s biggest MSOs have begun to arrive.”
- Part one of our series explains why MSOs are warming to the Golden State.
- Part two takes a look at the California dreams of Cresco Labs, Columbia Care, Trulieve and other major players.
- It’s not always obvious which MSOs are active in the state, since they often operate under different brand names.
The new California legislature meets for the first time this week. Coming soon: We’ll preview of the next two years of cannabis legislation, and introduce you to key players in Sacramento.