Nevada
Nevada’s First Cannabis Consumption Lounge Poised to Open by End of February | High Times
Over the past few months, the Nevada Cannabis Control Board has approved a handful of cannabis consumption lounge licenses. On Feb. 15, the CCB announced that Thrive Cannabis Marketplace’s lounge, called Smoke and Mirrors, is the first to receive its final license in Nevada.
“We’ve marked a lot of ‘firsts’ in Nevada and we’re honored to yet again be at the forefront of Nevada’s cannabis industry by officially launching the first regulated cannabis lounge in the state,” said Thrive Cannabis Marketplace CEO and managing partner, Mitch Britten. “With Smoke and Mirrors, we have created an unparalleled destination for cannabis enthusiasts to enjoy a diverse range of premium products in a really engaging atmosphere.”
The lounge will offer both a “curated selection of premium cannabis products” as well as infused beverages, although alcohol will not be available as according to Nevada state law.
The Nevada Cannabis Compliance Board (CCB) also released a statement about Thrive, sharing that it “is the first cannabis consumption lounge inspected by Board agents to ensure the facility is adhering to state regulations.” Thrive first received its conditional license in June 2023, and in September, it received a Special Use Permit from the Clark County Zoning Commission. “We are thrilled to be among the first in the state to do so,” Britten said at the time. “This is a huge milestone for us and we can’t wait to finish this incredible new offering in the Vegas valley.” As of Feb. 13, the lounge inspection was completed, which allowed Thrive to receive its final state license for operation.
The CCB also shared that there are a total of 19 lounges that have been approved for a conditional license so far (14 attached to dispensaries and five that are independently located). Smoke and Mirrors will operate in what used to be a strip club, located west of the Strip at 2975 S. Sammy Davis Drive. If all goes according to plan, Smoke and Mirrors will open by the end of the month.
Last month, former CCB executive director Tyler Klimas appeared on Episode 77 of the Weed Wonks podcast. Klimas spoke about the long wait to get consumption lounges rolling, and how more are expected to open in the near future. “It’s an unknown market. There is no blueprint anywhere,” Klimas said. “We see many business plans and projections, but nobody really knows until we open it up. We don’t know how successful it’s going to be, which is very exciting.”
The process has taken much longer than anticipated, but Klimas explained that there are a lot of moving parts connected to this new business opportunity. “Obviously when you’re talking about social consumption, you’ve got local governments playing a huge role in that. You’ve got law enforcement and the anxieties that law enforcement has, deservedly so, around social consumption.”
Planet 13 is the only other consumption lounge conditional license holder that has publicly announced a potential opening date, but so far has not received its final state license for that to occur. It initially announced the renderings for its lounge in November 2023, which is supposed to include VIP booths, bong chandeliers, and cannabis cocktails. We’re thrilled to share our exciting plans for our trailblazing cannabis consumption lounge. From day one, our goal has been to out-Vegas-Vegas, and this is another big step in that direction. It’s an extraordinary space for cannabis novices, connoisseurs, tourists and locals to enjoy cannabis while experiencing world-class entertainment,” said Larry Scheffler, Co-CEO of Planet 13. “One of the main goals for this year was to increase the utilization of the SuperStore to drive more traffic, and revenue while improving cost structure and operating margins. We are executing on that goal while continuing to define Planet 13 as a differentiated retail brand with national recognition.”
The NuWu Dispensary, located on Las Vegas Paiute Tribe land north of downtown Las Vegas, is technically the state’s first operating consumption lounge, which opened in 2019.
The first three conditional licenses were granted to Planet 13, Thrive Cannabis Marketplace, and SoL Cannabis in June 2023. In July, LA Lounge LLC was the first independently located consumption lounge to receive a license, followed by three more licenses grants in August for Deep Roots Harvest, Global Harmony, and KV Group. In October, additional licenses were granted to Curaleaf Holdings, Inc., Green Thumb Industries, Inc., Desert Evolution, LLC, Higher* Archy, LLC, NevadaPure, LLC, and TGIG, LLC. As of October, there were 13 total number of conditional license holders, which was followed by six more.
New changes to Nevada’s cannabis law went into effect on Jan. 1, which includes an increase to the possession limit. Previously consumers were limited to possessing just one ounce, and now they can carry up to 2.5 ounces. Also, now adult-use cannabis stores can sell to medical cannabis patients, as no new medical cannabis dispensary licenses will be approved (except for regions where adult-use cannabis has been banned). “That’s one of the big changes, (but) I think there are a bunch of things in the bill that are really designed to be business-friendly and moving our cannabis industry into the next phase,” said Sen. Dallas Harris, a sponsor of the bill that led to the changes.
Home prices in Southern Nevada dropped from record highs to end 2025 and less homes sold last year compared with 2024.
Approximately 28,498 existing homes sold in the region last year, which is down almost 9 percent from the 31,305 homes that sold in 2024, according to trade association Las Vegas Realtors, which pulls its data from the Multiple Listing Service. This is the lowest number of homes sold in a year in Southern Nevada since 2007 right before the Great Recession.
The median sale price for a house sold in Southern Nevada in December was approximately $470,000, a 3.9 percent drop from November, according to LVR. By the end of December, LVR reported 6,396 single-family homes listed for sale without any sort of offer. That’s up 28.8 percent from one year earlier.
Despite a down year in sales, the local market did end on a high note.
George Kypreos, president of Las Vegas Realtors, said he is optimistic the housing market could turn around this year. The LVR report noted that home sales in Southern Nevada have seen “peaks and valleys” in recent years, generally declining since 2021 when a record 50,010 properties sold.
“Although it was a relatively slow year for home sales, we’re seeing some encouraging signs heading into the new year,” said Kypreos in a statement. “Buyer activity locally and nationally is starting to improve. Home prices have been fairly stable, and mortgage interest rates ended the year lower than they were the previous year. Most trends are pointing to a more balanced housing market in 2026.”
Freddie Mac currently has the average price for a 30-year fixed-term mortgage rate at 6.1 percent. That mortgage rate has not gone below 6 percent since 2022.
The all-time high median home sale price in Southern Nevada was broken multiple times last year, and currently sits at $488,995 which was last set in November while the condo and townhome market has dropped substantially from an all-time high that was set in October of 2024 ($315,000) to $275,000 to end 2025.
Major residential real estate brokerages are mixed as to where the market will head this year as Zillow, Redfin and Realtor.com have all put out their 2026 projections, and they expect a similar market to 2025. Mortgage rates aren’t expected to drop enough next year to unlock the country’s housing market, new builds will continue to lag, and prices will remain relatively elevated.
Realtor.com said in its report that it predicts a “steadier” housing market next year and a slight shift to a more balanced market. Redfin’s report says 2026 will be the year of the “great housing reset,” which means the start of a yearslong period of “gradual increases in home sales and normalization of prices as affordability gradually improves.”
Finally, Zillow said the housing market should “warm up” in 2026 with “buyers seeing a bit more breathing room and sellers benefiting from price stability and more consistent demand.”
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
TRUCKEE, Calif. — An avalanche in California’s Sierra Nevada on Monday buried a snowmobiler in snow and killed him, authorities said.
Rescuers responded after a 911 call around 2:20 p.m. reported a possible avalanche near Johnson Peak and Castle Peak in Truckee.
The snowmobiler was initially reported missing but then was found under the snow several minutes later, the Nevada County Sheriff’s Office said in a statement.
Fellow recreationists found him but he didn’t survive despite lifesaving efforts, according to the statement.
Emergency personnel were working to safely extract the victim late Monday and to confirm no others were buried.
The sheriff’s office said more avalanches could occur and recommended that people avoid the area.
Each winter, 25 to 30 people die in avalanches in the U.S., according to the National Avalanche Center. The center’s current map shows high risk spots in Utah and Washington and areas of considerable risk in California, Colorado, Idaho and Wyoming.
Nevada Preps Winter Sports Rankings
Records through Sunday
Boys basketball
Class 5A
1. Liberty (10-5)
2. Democracy Prep (9-6)
3. Coronado (5-6)
4. Bishop Gorman (9-7)
5. Desert Pines (11-4)
Class 4A
1. Clark (8-5)
2. Las Vegas High (10-4)
3. Losee (7-5)
4. Faith Lutheran (11-5)
5. Shadow Ridge (11-4)
Class 3A
1. Virgin Valley (9-2)
2. The Meadows (9-5)
3. Boulder City (9-5)
4. GV Christian (8-6)
5. Pahrump Valley (5-7)
Games to watch
All games at 6:30 p.m. unless otherwise noted
Tuesday
Losee at Las Vegas
Faith Lutheran at Liberty
Wednesday
Bishop Gorman at Desert Pines
Virgin Valley at The Meadows
Thursday
Coronado at Mojave
Clark at Durango
Friday
Desert Pines at Las Vegas
Virgin Valley at Boulder City
Saturday
Big City Showdown at Coronado
Liberty vs. Desert Pines, 4:30 p.m.
Bishop Gorman vs. Coronado, 8 p.m.
Girls basketball
Class 5A
1. Bishop Gorman (11-1)
2. Democracy Prep (7-4)
3. Centennial (6-3)
4. Liberty (10-7)
5. Shadow Ridge (3-4)
Class 4A
1. Mojave (9-4)
2. Mater East (10-4)
3. Losee (14-5)
4. Del Sol (13-3)
5. Cimarron-Memorial (9-2)
Class 3A
1. Virgin Valley (6-5)
2. Boulder City (8-6)
3. Moapa Valley (8-4)
4. Coral Academy (7-4)
5. Pahrump Valley (4-7)
Games to watch
All games at 6:30 p.m. unless otherwise noted
Wednesday
Faith Lutheran at Shadow Ridge
Centennial at Liberty
Mojave at Desert Oasis
Thursday
Sierra Vista at Cimarron-Memorial, 5 p.m.
Friday
Mater East at Desert Oasis
Virgin Valley at Boulder City
Saturday
Big City Showdown at Coronado
Bishop Gorman vs. Centennial, 6:15 p.m.
Flag football
Class 5A
1. Desert Oasis (8-0)
2. Shadow Ridge (10-1)
3. Arbor View (10-1)
4. Palo Verde (10-3)
5. Liberty (6-2)
Class 4A
1. Virgin Valley (5-3)
2. Sierra Vista (5-2)
3. Mater East (6-3)
4. Clark (7-4)
5. Spring Valley (5-2)
Games to watch
All games at 5:30 p.m.
Wednesday
Palo Verde at Desert Oasis
Coronado at Bishop Gorman
SECTA at Arbor View
Friday
Shadow Ridge at Palo Verde
Canyon Springs at Arbor View
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