The arena was built to replace the 36ers former and now-demolished home, Apollo Stadium, which only seated 3,000 people in cramped conditions.

Despite the arena's ability to host more than just sporting events such as basketball and netball, the Government of South Australia placed restrictions on the venue's use when it opened in 1992.

[4] The arena's attendance record of 8,127 was set on 11 April 2014 to see Game 2 of the 2013–14 Grand Final series when the 36ers defeated the Perth Wildcats 89–84.

The Adelaide Arena has also played host to Boomers and Opals games against various visiting nations and other touring teams, including the opening game of a five-game series between the Boomers and Magic Johnson's All-Stars, who included former NBA players such as captain/coach Johnson and three-time NBA All-Star Mark Aguirre who top scored with 32 points, on 7 March 1995.

[citation needed] The NBL returned to the Arena when the New Zealand Breakers hosted a game against the Adelaide 36ers at the Venue on 12 March 2022.