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Las Vegas Strip-Adjacent Venue Adding Formerly Forbidden Vice

Something that has never been legal -- even in Sin City -- is coming to a major location just off the Las Vegas Strip.

Las Vegas has few rules aside from the basic ones that forbid murder, theft, and harming others. The city deals in sin with lust, gluttony, greed, laziness, wrath, envy, and pride all being readily available on the Strip, or downtown if you want to get even more daring.

And while gambling has become legal in a variety of states, it used to be the sole domain of Las Vegas, Atlantic City, and a handful of Native American casinos. Still and all, Las Vegas remains a beacon of indulgence -- a place where you are encouraged to do things that you might never consider doing everywhere.

Even the mainstream players -- Caesars Entertainment (CZR) - Get Free Report, MGM Resorts (MGM) - Get Free Report, and Wynn Resorts (WYNN) - Get Free Report -- focus on indulging pleasures that visitors may not experience in other places. Gambling (greed) and overeating (gluttony) are the most obvious sins being indulged, but it's possible to experience pretty much any kind of pleasure you desire in Las Vegas with a few notable exceptions:

  • Prostitution is not legal in Las Vegas: While sex-for-hire is legal in Nevada, it's not legal on the Las Vegas Strip.
  • You can't actually smoke pot in Las Vegas: While possessing cannabis is legal, the only place you can legally smoke it is in a private residence.

Of course, while both of these things are illegal, they're not exactly hard to come by on the Las Vegas Strip. The first, however, can happen between consenting adults behind closed doors without raising any suspicions. Smoking pot, however, isn't allowed in your hotel room and would trigger large fines.

That has relegated smoking marijuana to parking lots (for those looking to be discreet) and sometimes out in the open (for those who don't care). The police aren't going to arrest you for smoking pot, even right on the Las Vegas Strip, but it's still technically illegal.

Now, with Nevada finally setting the standards to approve legal cannabis consumption lounges, the biggest dispensary has just gotten approval to open a first-of-its-kind place to smoke marijuana just off the Las Vegas Strip.

Planet 13 Las Vegas Lead JS

Planet 13 Has Changed the Cannabis Game

Planet 13 (PLNHF) built a dispensary that's actually a major tourist destination.

Beyond just a place to buy legal marijuana, the company's superstore offers a restaurant and coffee shop as well as art installations and a look into the cannabis production process.

The company has built a tourist destination around selling a product you can't actually consume while at the store. When you enter Planet 13's sales floor, your name goes up on a digital board that lets you know when a salesperson will be available to help you.

While you're waiting you can browse an impressive selection of cannabis products -- everything from edibles, to beverages, tinctures, and any other legal way to consume the drug. It's all in very slick packaging and many of the brands sold are owned and operated by Planet 13.

Once your name comes up, you get to meet with a cannabis expert, a sort of marijuana sommelier, who helps you make the right selection. The salesperson also offers consumption advice designed to help you avoid overindulgence.

Once you pay for your order, it's placed in a sealed bag that you can't open while in the store. And if you purchased anything that's smokable, you've bought a product that you can legally consume only in a private residence.

Now, Planet 13 has obtained the approvals it needed to change that.

Planet 13 Is Approved for a Cannabis Consumption Lounge 

Nevada recently approved a licensing procedure for dispensaries to add consumption lounges (as well as a plan for some stand-alone ones). 

It's important to note that while Caesars, MGM, Wynn, and other casino operators are probably not thrilled to have customers leave their properties to legally smoke pot, federal law makes it illegal to mix casinos and marijuana.

Basically, Planet 13 is the location closest to the Las Vegas Strip that will have a consumption lounge (although others will likely be built in similar proximity to the Strip). 

The cannabis retailer's MM Development subsidiary has received approval from the Nevada Cannabis Compliance Board for a Nevada consumption lounge.

"The Planet 13 Entertainment Complex will be the first of its kind space where consumers can watch products being made, purchase, and consume all under one roof. This luxurious, tourist-friendly lounge, close to the Las Vegas Strip is expected to elevate the already incredible Planet 13 experience," the company said in a news release.

Planet 13, which controls about 10% of the Nevada cannabis market, has been working to get this approval for years.

"We are thrilled to be moving forward with our plan to bring a world-class cannabis consumption lounge next to the Las Vegas Strip," said Larry Scheffler, co-CEO of Planet 13. "Planet 13 has always been about offering new and one-of-a-kind immersive experiences for customers. We look forward to once again pushing the envelope and expanding people's minds about what cannabis can be."

TheStreet Managing Editor Daniel Kline owns shares of Planet 13.