Ontario scrapping pot retail lottery for more open system https://www.bnnbloomberg.ca/ontario-scrapping-pot-retail-lottery-for-more-open-system-1.1362005
Cowen & Co. cannabis Analyst Vivien Azer said in a note to clients that expanding Ontario’s cannabis retail market to as many as 1,000 locations could have a “substantial impact” on the Canadian total addressable market. She added that Ontario could add as much as $950 million in sales by simply tripling its existing cannabis retail store base of 24.
While Ontario didn’t disclose how many cannabis retail outlets it expects to be open by the end of next year, a government source told BNN Bloomberg it has eyed about 1,000 stores to eventually operate in the province, a milestone that would reflect a mature market. News of Ontario’s moves was welcomed by Megan McCrae, chair of the Cannabis Council of Canada.