Victory Casino Cruises has proven to be an economic winner for Brevard County and Port Canaveral, as well as for many local residents and businesses.
According to a new impact study, Victory Casino Cruises – based in Port Canaveral and touted as America’s biggest and best casino ship — adds $41.5m per year to the local economy, in terms of employment and operational spending across multiple local businesses.
The study — entitled “Economic Impact Analysis of Victory Casino Cruises” —was conducted by Fishkind & Associates, Inc. in Orlando.
The cruise ship directly employs nearly 450 persons, of which more than 300 represent full-time equivalent jobs in Brevard County. More than $14.5m is paid in annual wages.
Over the last six years, Victory’s continuous operation at Port Canaveral has contributed an estimated $200m to the Brevard County economy, on a net present value basis, and by employing hundreds of persons.
According to the study, this significant economic impact came “at a crucial time,” when beginning in 2011, the “Brevard County economy underwent substantial contraction of the aerospace industry, with the conclusion of the space shuttle program.”
Today, as a popular and growing business at the Port, Victory hosts, on average, 400 persons per trip, operating seven days a week, two trips per day. More than 285,000 Victory passengers move through Brevard County and Port Canaveral annually, causing a positive ripple effect throughout the local economy.
In addition to Victory’s cruise ship operations, there is additional local spending generated by passengers when they are landside, both immediately before and after their cruise, as well as overnight hotel spending. Combined passenger spending and Victory’s operational spending exceeds $27 million annually — in Brevard County alone.
The study cites that Victory’s “permanent economic impact” reaches many local businesses as well. These include restaurants, sightseeing transportation services, various day-trip services, auto leasing and equipment rentals, advertising and retail spending on gifts.
Victory also supports more than 100 local and national charitable organizations on an ongoing basis.
Additionally, the Port is a direct beneficiary of Victory’s continuous operation, including parking fees, and millions of dollars in payments to it from Victory Casino Cruises.