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  • Well as if we did not see this coming...

    We were sold on this idea that it would be a cash bonanza for Provincial coffers.
    Why Alberta continues to lose money on legal cannabis

    Hundreds of stores have opened but province’s cannabis agency remains in the red


    Trevor Howlett - CBC News
    Posted: March 05, 2020

    Albertans are among the biggest consumers of legal cannabis in Canada but it may still be several years before the provincial government turns a profit in the industry.

    The Alberta government is expecting to lose around $26 million in the 2019-20 fiscal year and will continue to be in the red the next three years, due to setup, administration and inventory costs. The 2020-21 fiscal year is expected to be even more in the red, with a net loss of $36 million.

    The province wasn't expecting to make money in the first two years; even the previous NDP government had projected to lose about $90 million until 2020-21 when the province expected a net income of $37 million.

    According to Statistics Canada, in the first year of legalization the province was second in the country in total retail sales, generating about $196 million.

    Though Alberta has more cannabis retail outlets than any other province — 423 locations — the industry still faces challenges, both in establishing a framework for legal cannabis and with illicit market competition.
    Advocating a better Edmonton through effective, efficient and economical transit.

    Comment


    • Went to my local dispensary, only opened for a few months. Bought some product from a "new" LP & it was still over 5 months between packaging & sale. Terrible.

      Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

      Comment


      • I'll send you some fresh stuff...

        Advocating a better Edmonton through effective, efficient and economical transit.

        Comment


        • Nah, I've got a mail-order service. I only go to the local when I'm completely dry & a delivery is still a few days out.
          Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

          Comment

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