The Ottawa Senators are a major economic engine in the capital, contributing millions of dollars to the city's economy every year.

"It's a significant economic generator and impact to have an NHL team and an NHL building in your community," said Cyril Leeder, president and CEO of the Ottawa Senators

"We just did a study for the World Juniors, which we hosted last year, and it was more than $80 million for one event."

Sens owner Eugene Melnyk says buying the team was possibly the best decision he's ever made.

"It was probably one of the greatest things I ever did in my life, to be able to be part of this and I can say nothing but great things about it," Melnyk told CTV Ottawa on Thursday, prior to the Sens' home-opener against the New York Islanders.

"When we bring that Stanley Cup to Ottawa, that high will be higher than any low can ever be," he said.

An NHL team not only benefits the hockey club, it also has a far-reaching impact on the community.

"I see travel writers from around the world, and that is consistently something I hear from them: 'Oh, how are the Ottawa Senators?'" said Jantine Van Kregten of Ottawa Tourism.

"They may not follow hockey, but they do know we have a team. So, in terms of getting our name out there it is invaluable."

Businesses in the capital also get a boost from game days. The Brookstreet Hotel, which is known as a key hockey hotel, is adding game night parties this season.

Even within the 'Bank' business is growing, with the opening of Bert's bar on Thursday.

The team is also behind the Sens Foundation, which raises millions of dollars for charitable organizations every year.

With a report from CTV Ottawa's Kimothy Walker