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Now that final regulations have been issued for marijuana consumption lounges to begin operating in Nevada, Las Vegas cannabis executives are gearing up to lure customers off the Strip and into their smoking rooms.

Thrive Cannabis Marketplace, the largest independent cannabis retailer in Nevada, recently opened a new dispensary off the Strip next to Resorts World and Sapphires Gentlemen's Club, and has space built to consumption lounge pending approvals.

Christopher LaPorte of RESET Vegas, Thrive's hospitality partner, can speak to what operators are hoping to see following lounge applications openings, predictions for what lounges will look like and how they will operate, and how their opening will affect gaming and nightlife in Vegas.

The law allows for lounges to begin operating statewide as early as the end of 2022 and for licenses to be processed beginning this fall.

The state is allowing 40-45 licenses for lounges attached to existing marijuana retail stores and 20 for stand-alone establishments, including 10 with sharply discounted fees reserved for social equity applicants.

An estimated 60-65 existing retailers have expressed interest in opening consumption lounges.