Although medical marijuana dispensaries were legalized in Nevada, federal law dictates the manufacturing and distribution of marijuana is a crime, therefore, Nevada gaming regulators are advising casino operators to stay out of the industry.
“Unless the federal law is changed, the board does not believe investment or any other involvement in a medical marijuana facility or establishment by a person who has received a gaming approval or has applied for a gaming approval is consistent with the effective regulation of gaming,” Terry Johnson of the Nevada Gaming Control Board wrote in a memo to casino operators.
The memo went on to state operators involved with medical marijuana would discredit the gaming industry. The board did not elaborate on possible consequences. The memo followed a release of applicants for marijuana dispensaries, which included Clear River LLC. Anthony Marnell III of M Resort holds 71 percent of the company, the Las Vegas Sun reported. Marnell was also not available for comment.
Slot machine operator JETT Gaming has invested in the medical marijuana industry. The Herbst brothers together own 15 percent in The Clinic Nevada LLC. The clinic has applied for a dispensary license and cultivation license.
Tom Mikovits, a key marketing executive for online poker giant Real Gaming, has separated himself from Wellness Connection of Nevada LLC. Mikovits was listed as a manager, but the board’s announcement caused him to turn away from the company.
A total of 109 companies applied for medical marijuana licenses in Clark County and some had ties to the gaming industry, such as Armen Yemenidjian, who is a Tropicana vice president in casino operations. Yemenidjian has 40 percent in Integral Associates LLC. Integral applied for five licenses, to operate three dispensaries, a cultivation facility and production area.
Last year, Nevada lawmakers made it legal to distribute medical marijuana within a framework that allows for cities and counties to enact dispensary moratoriums.
Meanwhile, the list of applicants continues to grow. Judges, politicians, doctors, attorneys, real estate brokers and gaming operators are delving into the medical marijuana industry. Even the publisher and editor of the Las Vegas Sun, Brian Greenspun is part of one group seeking licenses for a dispensary. The county requires all owners of businesses to complete disclosure forms. Clark County’s list includes applicants from four other states.
