The arena, built at a cost of $5.5 million and named for local businessman Leon A. Beeghly, opened on December 2, 1972.

The first event at the arena was a basketball game against the Ohio University Bobcats, which ended in a 68–59 Youngstown State victory.

In May 2002, the facility underwent more than $2.5 million in additional renovations, including a new front and rear lobby, new hallways and locker rooms and a new $150,000 sound system.

In addition to YSU intercollegiate basketball and volleyball contests, as well as university events, Beeghly Center has served as the site for high school competitions, World Wrestling Entertainment matches (though the WWE now uses the newer Covelli Centre nearby when visiting Youngstown), concerts, tradeshows, and numerous other functions that dot the busy facility schedule throughout the year.

The Beeghly Center holds many YSU classes throughout each semester, as well as the Youngstown City School District's "All-City" Science Fair competition.