Too many Atlantic City cannabis stores, says Legal Distribution’s founder Lou Freeman, who’s also owner of Margate’s popular Bocca Restaurant.
Problems in Atlantic City revolve around an intense level of competition in a market perceived as oversaturated.
The legal cannabis retail market is also hurt by illegal cannabis sales and a lack of enforcement.
Plenty of illegal sales and public smoking on the Boardwalk.
WATCH VIDEO CLIPS:
Who’s to blame? AC Mayor Marty Small pushed for Atlantic City to be an east coast hub for marijuana. CRDA also being blamed for this cannabis chaos.
Who developed the cannabis rules for AC? Whoever it was, did a horrible job.
Market Saturation and Retailer Cap
- Oversaturation Concerns: Business leaders screamed that the market is already oversaturated with dispensaries, threatening the viability and success of existing and future businesses.
- License Cap Enacted: In response to these concerns, Atlantic City Council voted to adopt an ordinance instituting a cap of 16 total cannabis retailers (12 standard and 4 microbusiness licenses).
Where did Louie figure there would only be 6 dispenseries?
From KASH?
Louie is smarter than that.
Such a sad story.