The new recreational marijuana laws in Nevada are set to begin on July 1, which is less than two weeks away. However, don’t assume that people will be freely using marijuana throughout the state. Despite the legality of cannabis use, casinos are keeping a significant distance from marijuana and its burgeoning industry.
Wynn supposedly 86es marijuana distributor
Isaac Dietrich is an entrepreneur who holds the CEO position at MassRoots, a firm that recently took over High Times Magazine. High Times is a well-known publication that focuses on marijuana-related content. MassRoots aims to unify businesses in the cannabis sector and advocate for nationwide legalization.
Dietrich recently submitted an application for the Red Label rewards program at Wynn Casino. In theory, every customer is eligible to apply for this, like any other casino customer rewards program.
Dietrich suggests that Wynn not only rejected his application but also prohibited him from entering the property. He discussed his experience, including alleged emails from Wynn’s employee, Larry Whelan, with Leafly. Dietrich questioned the rationale behind his exclusion, noting that both MassRoots and Wynn Resorts have common investors.
According to Dietrich, the response from Whelan was as follows:
From my recollection, the customer diligence protocols of Wynn Las Vegas’s compliance program have identified your enterprise as a marijuana-related entity that earns revenue from marijuana businesses. Regrettably, this means your wealth originates from the marijuana industry, as your enterprise is remunerated with the proceeds from marijuana sales.
We are required by regulations to not only identify businesses that aid in selling marijuana but also to determine the origin of our customers’ wealth. This ensures that the money is lawfully earned.
Wynn chose not to publicly comment on the story.
Regulators warn casinos to steer clear of marijuana industry
As reported by the Las Vegas Review-Journal, Nevada’s regulators are examining how states such as Colorado manage the coexistence of casinos and cannabis. Despite this investigation, regulators are still advising caution. They have consistently warned casino operators to avoid involvement with marijuana.
A bill that would have permitted public marijuana consumption in Nevada did not pass. Consequently, the options for places where people can legally consume marijuana are limited. Casinos will monitor guests who use marijuana, both on the casino floor and in their hotel rooms.
The casino industry is taking a firm stance. The uncertainty lies in the duration of this stance. As Dietrich pointed out, a lot of investors are shared between many casinos and marijuana companies. In addition, marijuana repositories are quickly becoming a significant aspect of the Las Vegas tourism industry. Given the potential tourism revenue at stake, can casinos realistically continue to completely avoid regulated marijuana?
