Manufactured by Intamin, the ride opened to the public on April 26, 1997, as part of a three-phase plan for the park's Southwest Territory area.

The ride received a temporary re-theme in 2017 under the name Drop of Doom featuring virtual reality headsets in partnership with Samsung.

[1][2] Plans to construct the ride were approved by the Gurnee Village Board on October 8, 1996, despite resident opposition, citing concerns that the new attraction would create "intolerable" noise throughout the village, as homes were located close to Washington Street, near where the attraction would be constructed.

[7][8] After the pronouncement, a voice over the public address system was heard saying "You may now take the ultimate plunge," as couples were dropped down the attraction.

[9] After an accident in June 2007 at Six Flags Kentucky Kingdom where a teenager had both feet cut off on Superman: Tower of Power, all Intamin drop towers at Six Flags and Cedar Fair theme parks were shut down temporarily as a safety precaution, including Giant Drop.