Senators Sports and Entertainment brings in $100 million annually
Senators Sports and Entertainment (SSE) has considerable economic impacts on the Ottawa-Gatineau area according to a new study conducted at the University of Ottawa. The company brings in $204 million in indirect spending and $100 million in direct spending each year to the National Capital Region.
Led by former U of O professor Dr. Norman O’Reilly, the study focused on looking at how the Ottawa Senators, events at the Canadian Tire Centre and the Bell Sensplex, the Ottawa Senators Foundation, and other aspects of Senators Sports and Entertainment (SSE) affected the financial, sport, community, and infrastructure sectors of the National Capital Region between September 2012 and July 2013.
“The estimate of $204 million calculates direct, indirect, and intangible impacts,” said Dr. O’Reilly. “We consider it to be conservative, with the true number being potentially higher, but certainly not lower.”
The Ottawa Senators franchise was pleased to hear the news of their effect on the community.
“The economic impact study conducted by the University of Ottawa reveals that the Senators are more than a hockey team,” said SSE president Cyril Leeder. “We are a major business partner to the Ottawa-Gatineau area that provides economic value, reaches a wide variety of individuals and businesses, and helps increase the success of our entire community.”
While the Senators are the major economic driver for SSE, major events like the Bell Capital Cup, the 2009 World Junior Championship, and the 2012 NHL All-Star game also play a significant economic role. For example, the Bell Capital Cup, one of the world’s largest hockey tournaments, brought in $21.7 million of direct and indirect money from visitors outside the region.
The Senators also impacted tourism by drawing 118,000 tourists a year to watch a game at the Canadian Tire Centre, fetching $22 million in revenue for the area. On average, a guest will inject $500 into the local economy during their visit in the city, spending at hotels, bars, restaurants, and shops, among other things.
“It’s sometimes easy to overlook the true value of the Senators because we are so focused on what happens on the ice,” said Ottawa Tourism president and CEO Noel Buckley. “The SSE impact goes much further than as an economic driver, and provides many secondary benefits related to our city’s image and brand.”