“Oilers’ Golden Era: McDavid and Draisaitl Fuel On-Ice Dominance and Off-Ice Boom in Edmonton’s ICE District”

Oilers’ Golden Era: McDavid and Draisaitl Fuel On-Ice Dominance and Off-Ice Boom in Edmonton’s ICE District

The Edmonton Oilers are experiencing a renaissance both on and off the ice, driven by the stellar performances of Connor McDavid and Leon Draisaitl. The dynamic duo, ranked first and third in the NHL Network’s preseason list of the best players in the sport, have propelled the Oilers to the Western Conference Finals for the second time in three seasons. Tied 1-1 in their series against the Dallas Stars, the Oilers are making a strong bid for the Stanley Cup.

n-Ice Excellence

Connor McDavid and Leon Draisaitl have been the cornerstones of the Oilers’ recent success. McDavid, with his unparalleled speed and playmaking ability, and Draisaitl, with his scoring prowess and versatility, form the most formidable tandem in the NHL. Their leadership and consistent high-level performance have turned the Oilers into perennial contenders, bringing hope and excitement to Edmonton’s passionate fan base.f

f-Ice Prosperity

The Oilers’ success isn’t limited to the ice. Off the rink, the team has become a major economic force in Edmonton. Rogers Place, their home arena, is one of the most prosperous venues in the NHL. The arena is at the heart of the ICE District, a 25-acre mixed-use sports and entertainment development that is the second largest in North America, only surpassed by Hudson Yards in New York.

“The ICE District is really the epicenter of all the activity in our city,” said Tim Shipton, Oilers Entertainment Group (OEG) executive. “It’s the place that people want to be.”

OEG owns not only the Oilers but also the ICE District, the rights to operate Rogers Place, and teams in the American Hockey League and Canadian juniors’ Western Hockey League. The ICE District boasts multiple levels of retail with shopping and dining options, office space, a casino, residential condos, a JW Marriott hotel, and an outdoor plaza. Recently, OEG sold the commercial portion of the 69-story Stantec Tower for $400 million, along with an office building to Alberta pension manager AIMCo for $300 million.

Fan Engagement

During the NHL playoffs, Edmonton’s passion for hockey is palpable. Fans have been congregating outside Rogers Place for both home and away games, with more than 11,000 fans split between the plaza and fan park, in addition to the 18,000-plus inside the arena. Even for road games, Rogers Place has been full for watch parties, with OEG capturing revenue from all the food and drink consumed inside and outside the arena.

“We’ve been sprawling for decades, and it’s easy to not focus on development in a downtown when you have all this land,” said Puneeta McBryan, executive director of the Downtown Business Association of Edmonton. “But it really has changed how our downtown looks and how we build our city.”

#### Economic Impact

OEG has invested CA$2 billion ($1.5 billion using current exchange rates) during Phase 1 of building the ICE District, with Phase 2 set to include 2,500 housing units and more green space. An additional CA$2 billion has been spent by other entities developing real estate in the area since the Oilers announced their plans for the arena.

The financial success of the Oilers is evident. The team generated the fifth-highest revenue in the NHL during the 2022-23 season, at an estimated $281 million net of revenue sharing, according to Sportico. The Oilers ranked eighth in team value at $1.6 billion, with every team ahead of them in a metro area at least three times larger by population. Sportico’s valuation includes the team’s gaming operations, OEG Digital Gaming, and the sports-related components of the ICE District, representing a fraction of the development’s total value.

#### Conclusion

The Edmonton Oilers are riding a wave of success both in their hockey endeavors and their economic ventures. Connor McDavid and Leon Draisaitl’s brilliance on the ice has reignited the team’s fortunes, while the development of the ICE District has transformed Edmonton’s downtown into a vibrant, bustling hub. As the Oilers continue their quest for the Stanley Cup, their impact on and off the ice solidifies their status as a powerhouse in the NHL and a cornerstone of their community.