DENVER, CO - JANUARY 1: A sign is displayed outside the 3-D Denver Discrete Dispensary on January 1, 2014 in Denver, Colorado. Legalization of recreational marijuana sales in the state went into effect at 8am this morning. (Photo by Theo Stroomer/Getty Images)
DENVER (AP) — Chain retailers in Colorado have been opening more cannabis stores than entrepreneurs.
The Marijuana Business Daily reported Monday that nearly one in three cannabis stores in Colorado are currently operated by a chain retailer.
The increase of chain retailers is a sign "mom-and-pop" shops could be faded out by larger companies.
Data from the state Department of Revenue shows the percentage of individual stores owned by retailers with three or more locations has risen more than 12 percentage points from January 2015.
In addition, about 9 percent of recreational retailers in the state currently own and operate three or more stores - up slightly from 7 percent in January 2015.