Last verified: March 2026
Rhode Island's cannabis market is one of the most concentrated in the nation. Just eight licensed compassion centers serve the entire state — all dual-licensed for both medical and recreational sales. The market is dominated by local ownership: six of eight dispensaries are locally owned, with only RISE Warwick operated by a major multi-state operator (Green Thumb Industries). Twenty-four new licenses are pending, with stores expected to open in late 2026 and 2027.
All Eight Licensed Dispensaries
| Dispensary | Location | Operations | Ownership |
|---|---|---|---|
| Thomas C. Slater Compassion Center | Providence | Hybrid (grow + retail) | Local (CEO Gerald McGraw Jr.) |
| Newport Cannabis Co. | Portsmouth | Hybrid (grow + retail) | Local |
| RISE Warwick (fmr. Summit Medical) | Warwick | Hybrid (grow + retail) | MSO Green Thumb Industries |
| Sweetspot Dispensary | Exeter | Hybrid (grow + retail) | Local |
| Aura of Rhode Island | Central Falls | Retail only | Local |
| Mother Earth Wellness | Pawtucket | Hybrid (grow + retail) | Local |
| Solar Cannabis Co. | Warwick | Retail only | Regional (also 3 MA stores) |
| Green Wave CC | Foster | Retail only | Local (delayed opening) |
Revenue Leaders (2023)
Rhode Island's eight-dispensary market concentrates revenue heavily among the top operators:
| Dispensary | 2023 Revenue | Notes |
|---|---|---|
| RISE Warwick | $32.2M | Highest revenue — Green Thumb Industries (MSO) |
| Thomas C. Slater | $25.3M | Largest locally owned operator |
| Mother Earth Wellness | $19.0M | Pawtucket — local ownership |
| Sweetspot Dispensary | $12.0M | Exeter — local ownership |
RISE's $32.2 million in revenue demonstrates the purchasing power of a multi-state operator, but local owners collectively dominate the market. Slater, Mother Earth, and Sweetspot together outpace RISE by a wide margin, reflecting the state's unusual commitment to local ownership in cannabis.
Ownership Breakdown
- 6 of 8 locally owned — Thomas C. Slater, Newport Cannabis Co., Sweetspot, Aura, Mother Earth Wellness, Green Wave
- 1 MSO-owned — RISE Warwick (Green Thumb Industries, publicly traded on OTCQX)
- 1 regional operator — Solar Cannabis Co. (also operates 3 Massachusetts dispensaries)
Rhode Island's ownership structure stands out nationally. In most states, MSOs dominate the dispensary landscape. Here, the original compassion center model — rooted in nonprofit community service — kept local operators in control as the market transitioned to recreational sales.
Hybrid vs. Retail-Only
Five dispensaries operate as hybrid grow + retail facilities, meaning they cultivate their own cannabis on-site or at affiliated grow facilities and sell directly to consumers. Three are retail only, purchasing wholesale flower and products from other cultivators.
The hybrid model typically means a wider selection of house-grown strains and potentially lower prices, since the dispensary controls its own supply chain. Retail-only operators may carry a more diverse range of brands from multiple cultivators.
Rhode Island's eight dispensaries are concentrated in the Providence metro area and along the I-95 corridor. Sweetspot (Exeter) and Green Wave (Foster) serve the more rural western part of the state, while Newport Cannabis Co. (Portsmouth) covers the East Bay. Twenty-four new licenses will expand access statewide.
What's Coming: 24 New Licenses
The Cannabis Control Commission is processing 24 new retail licenses across six geographic zones (4 per zone: 1 social equity, 1 worker cooperative, 2 open). With 97 applicants competing for these licenses, a lottery is expected mid-2026 with stores opening in late 2026 and 2027. This will triple the number of retail locations in the state and significantly increase competition.
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