Colorado Recreational Marijuana Sales Exceed $5 Million In First Week

COLORADO:  Colorado marijuana dispensaries made huge sales in the first week of legal recreational marijuana.

Owners of the 37 new dispensaries around the state reported first week retail sales to The Huffington Post that, when added together, were roughly $5 million.

That’s a lot of green for Colorado’s legal weed.

Colorado, the first state to allow retail recreational marijuana sales to adults age 21 and older, has projected nearly $600 million in combined wholesale and retail marijuana sales annually. The state, which expects to collect nearly $70 million in tax revenue from pot sales this year, won’t have its first official glimpse at sales figures until Feb. 20, when businesses are required to file January tax reports, according to Julie Postlethwait of the state Marijuana Enforcement Division.

Denver’s 9News was first to report statewide retail sales on New Year’s Day, the first day legal pot shops were allowed to operate, exceeded $1 million. Interest dropped in the days that followed, according to shop owners, but many reported customers still waiting in lines out the door.

“Every day that we’ve been in business since Jan. 1 has been better than my best day of business ever,” Andy Williams, owner of Denver’s Medicine Man dispensary, told The Huffington Post.

Read full article @ Huffington Post