Phil Ivey Awarded Nevada Medical Marijuana License

04 Nov 2014 | 10:38 Author: King, George

World-renowned gambler and WSOP legend, Phil Ivey, is one of 26 people to have been awarded a license from the state of Nevada to open a medical marijuana store in Las Vegas.

Phil Ivey has seen his fair share of sensational headlines in recent times having been accused of cheating by both the Crockfords Casino and the Borgata as well as the recent closing of Ivey Poker which announced it would be closed until next year while the site underwent a revamp.

The quest to open the medical marijuana store, it appears, is more an attempt by Ivey to diversify his portfolio, as opposed to him championing the legalize marijuana movement as has been suggested.

The medical marijuana permit is merely the first step and Ivey will have to jump through a few more hoops before he can legally open the doors to his new shop. First, permit holders had to be cleared by the Nevada Health Department to open the dispensary. There is no clear indication by the state as to how long it will take to approve the permits, but it is very unlikely that all permit holders will survive the process.

The Las Vegas City Council spent nearly 16 hours deciding on licensing and land use sought by the potential permit holders. Of the 50 applicants, the council only approved 26, of which Ivey was one.

The applicants that received both city and state credentials, will be allowed to open the stores but, as yet, there is no clear indication as to when a suitability hearing will be scheduled, leaving many of the applicants in the dark for the time being.

Among the many reasons for denying the permits to the other 11 applicants, included missing paperwork as well as questions regarding the onsite security in the new shops, while five others applications were withdrawn at the applicant’s request.

Other notable names in the bidding process included the likes of restaurateur Michael Morton, Vegas entrepreneur Michael Cornthwaite, developer James Hammer, former State Senator Mark James and political consultant David Thomas.

According to the Las Vegas Journal, the Las Vegas City Council members had to go through 519 applications and the narrowing down process took a lot longer than they expected. Among other problems, there was an attempt to delay the proceedings by Councilman Bob Coffin who wanted a weeklong delay to allow the council to approach the land use and licensing agreements with an “unbiased eye”. 

George King
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