Rise Cannabis Credit Report & Risk Rating
Cannabis industry credit intelligence from Cannabiz Credit Association
Company overview: Rise Cannabis
Rise Cannabis is best known in the U.S. market through the RISE retail banner operated by Chicago-based Green Thumb Industries (GTI), one of the more consistently profitable multi-state operators (MSOs) tracked by industry press. Under this brand, GTI pairs retail growth with cultivation and manufacturing assets, expanding where licensing frameworks and near-term adult-use conversions create attractive risk-adjusted returns.
Operationally, the RISE footprint has been actively built out in growth states. GTI has highlighted scaling efforts in Maryland, Minnesota, and New York to position for adult-use demand as markets mature. Recent store launches underscore that strategy: in late 2023 the company opened new RISE locations in Florida (including Brandon, Sun City Center, Clearwater, Tampa, and Crystal River) and added a New York storefront in Long Beach, reflecting a continued emphasis on high-traffic retail execution across regulated jurisdictions.
From a market-presence standpoint, GTI reported $1.1 billion in 2023 revenue (up 4% year over year) and noted that it opened 15 new stores in 2023, illustrating the scale behind the Rise Cannabis/RISE platform for suppliers, landlords, and service providers evaluating counterparty exposure.
Rise’s operations also extend beyond retail. In Minnesota, the RISE organization has positioned itself as a medical cannabis manufacturer with an indoor cultivation and testing-centric approach, anchored by its Cottage Grove facility at 8235 97th Street South, Cottage Grove, MN. That mix of retail reach and regulated production capabilities is central to Rise Cannabis’ role in the multi-state cannabis supply chain.
CCA Risk Rating System
Cannabiz Credit Association provides proprietary Risk Ratings that analyze payment history and financial factors to assess creditworthiness across the cannabis industry. Each rating reflects a data-driven assessment ranging from Very Low Risk to Very High Risk.
CCA Risk Ratings are for informational purposes only and do not constitute instructions or directives. Members should apply their own judgment and business policies when making credit decisions.
Rise Cannabis in the Multi-state Cannabis Market
Market analysis
The competitive landscape around Rise Cannabis is shaped by a patchwork of state-by-state rules, rapid retail buildouts, and ongoing consolidation among multi-state operators (MSOs). In the U.S. market, the RISE retail banner is closely associated with Chicago-based Green Thumb Industries (GTI), one of the few MSOs reporting sustained profitability. GTI disclosed $1.1 billion in 2023 revenue (up 4% year over year) and highlighted adjusted EBITDA of $91 million (33% of revenue), alongside continued store openings under the RISE brand.
Growth is increasingly tied to adult-use conversions and the timing of regulatory rollouts. GTI has emphasized scaling in Maryland, Minnesota, and New York to capture demand as those markets mature, and it launched adult-use sales at four Maryland dispensaries beginning July 1. Florida also remains a high-velocity medical market where GTI opened multiple RISE locations in late 2023, while other MSOs selectively expand or retrench based on unit economics.
Competitively, large peers such as Verano (active in 13 states) and regionally focused operators like Jushi are prioritizing optimization over blanket expansion. Meanwhile, portfolio rationalization is a defining trend: The Cannabist Co. (formerly Columbia Care) has exited or shuttered operations in several markets and is now concentrating growth in states including Maryland, New Jersey, Ohio, and Virginia.
Regulatory structure directly affects margins and counterparty risk. Some states allow limited cross-tier ownership with caps (e.g., Mississippi and Missouri), while others restrict vertical integration (e.g., Washington’s producer/retail separation) and New York generally limits full integration for adult-use participants. For multi-state brands operating under “Rise/Rise Cannabis” naming, this variability makes license status, entity structure, and compliance posture central to market positioning.
Why Credit Intelligence Matters for Rise Cannabis
Credit intelligence matters when you’re doing business with Rise Cannabis across multiple states
For vendors, landlords, service providers, and lenders supporting Rise Cannabis (often encountered under the RISE dispensary branding), credit risk is rarely a single-location question. In a multi-state footprint, the counterparty you invoice may be a specific licensed subsidiary, a management company, or a holding entity—each with different assets, liens, and payment behavior. That makes entity-level credit intelligence essential before extending terms.
Scale can be a strength, but it also creates moving parts that affect payables. Green Thumb Industries—the operator behind RISE dispensaries—reported $1.1B in 2023 revenue and continued store openings, including multiple Florida locations and a New York opening in late 2023, alongside share and debt repurchases (source). Expansion into states with evolving adult-use timelines (e.g., Maryland, Minnesota, New York) has also been a stated growth focus (source). Growth like this can change vendor concentration, logistics routes, and the “who pays” details quarter to quarter.
What to validate before you ship product or sign a long-term contract
- Exact legal entity and license holder (avoid brand-name confusion; “Rise Cannabis” can refer to different operators in different jurisdictions).
- State-by-state regulatory constraints that can limit vertical integration or cross-tier ownership, shaping supply-chain stability and margin profile (reference).
- Financial resilience signals (cash flow from operations, leverage, and whether growth is organic vs. M&A-driven).
- UCC filings, landlord/utility stress, and vendor disputes that often surface first at the subsidiary level.
In practical terms, stronger credit monitoring supports smarter limits, cleaner contract language (e.g., guarantees and cure periods), and fewer surprises when stores open, restructure, or shift purchasing between states.
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