MJBiz - September 2023 - 50

JUST THE FACTS Peek Inside the MJBiz Factbook
Marijuana Multistate Operators
The number of cannabis MSOs per state
WA
MT
OR
ID
WY
NV
UT
CA
AZ
CO
KS
NM
TX
AK
HI
Source: MJBizDaily research
MSO Footprints
Ohio and Pennsylvania are home to the largest number of marijuana
multistate operators
By Kate Robertson and Andrew Long
W
ith so much fast-paced
expansion-and, more
recently, downsizing-it
can be tough to know where each
marijuana multistate operator is
doing business.
That's why MJBizDaily mapped
out the MSOs to illustrate the states
where each company is running at
least one retail, cultivation and/or
manufacturing facility.
2020 and 2021 were characterized
by massive-and often very expensive-mergers
and acquisitions,
license applications and build-outs
of retail and production spaces.
But through 2022-and so far in
2023-M&A activity has slowed,
and many MSOs have cut costs,
50 September 2023 | MJBizMagazine
downsizing operations
in certain states and
exiting others entirely.
Reasons for the slowTo
see where each
multistate operator
does business, visit
mjbizdaily.com/wheremarijuana-multistateoperators-are-locatedby-state/
down
include:
* The slow pace of federal
legalization and other reform
such as SAFE Banking.
* Macroeconomic headwinds,
such as inflation and high
interest rates.
* Wholesale cannabis price
compression.
* High taxes.
* Competition.
" Optimization " is now the word
cannabis executives use to describe
this next phase of the industry.
This year, cash-strapped MSOs
are squeezing as much
value as possible out of
every investment while
shuttering or downsizing
areas that aren't
performing as well to reallocate
those dollars toward more
promising revenue-generating
opportunities.
And because some states haven't
yet passed adult-use cannabis
legislation, many are investing in
medical marijuana programs in key
states where efforts to legalize are
looking likely to pass.
This item was excerpted from the 2023
MJBiz Factbook. To learn more, visit
insights.mjbizdaily.com/factbook-2023.
© 2023 MJBiz, a division of Emerald X, LLC
OK
MO
AR
MS
LA
FL
AL
GA
KY
TN
SC
NE
SD
ND
VT NH ME
MN
MA
WI
MI
IA
IL
IN
OH
WV
VA
NC
PA
CT
NJ
DE
MD
DC
WA
NY
RI
Multistate operators per state
As of June 2023
Fewer than 2
2-4
6-8
More than 8
4-6
Marijuana Multistate Operators
The number of marijuana multistate operators per state.
https://mjbizdaily.com/where-marijuana-multistate-operators-are-located-by-state/ http://www.mjbizdaily.com/where http://insights.mjbizdaily.com/factbook-2023

MJBiz - September 2023

Table of Contents for the Digital Edition of MJBiz - September 2023

MJBiz - September 2023 - CT1
MJBiz - September 2023 - CT2
MJBiz - September 2023 - Cover1
MJBiz - September 2023 - Cover2
MJBiz - September 2023 - 3
MJBiz - September 2023 - 4
MJBiz - September 2023 - 5
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MJBiz - September 2023 - 50
MJBiz - September 2023 - Cover3
MJBiz - September 2023 - Cover4
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