Verano Holdings Corp. (PNK:VRNOF) Q4 2022 Earnings Call Transcript

Matt Bottomley: And there’s €“ is there anything specific in Florida that’s notable with respect to the dynamic? Just given that it seems to be over the last two, three quarters, a trend that a lot of MSOs have talked about on these calls with respect to the need to discount in store.

George Archos: It just depends what’s going on in the market. Even within Florida, it’s not like the entire state discounting, it’s by region, different stores. You have people that open new stores, they do heavy discounting, they get a new customers. So it’s just again, it’s an ebb and flow. Right now, it’s €“ we feel like it’s kind of balanced out a little bit. It’s hasn’t been as aggressive as it was in Q4, and we’ll continue to watch throughout the year with what happens. I think the last couple of years, a lot of supply came online in Florida. I think that’s going to balance out as well with cash being a priority for MSOs and other operators to continue to build on their balance sheet. I’m not sure how much is going to be deployed in Florida in cultivation until this adult use news comes out. So we’ll see how it balance out for the year.

Matt Bottomley: Got it. Okay, thanks. Appreciate all that.

Operator: And there are no further questions at this time. I would like to turn the call back over to George for closing remarks.

George Archos: Thank you, everyone for joining us today. We’ll see you in the next call.

Operator: And that does conclude today’s conference. Thank you for your participation. You may now disconnect.