The team plays its home games at Michelob Ultra Arena in the Mandalay Bay Resort and Casino, and is headquartered in Henderson, Nevada.

The franchise has been home to many high-quality players such as all-star point guard Becky Hammon, solid power-forward Sophia Young, former first-overall draft pick Ann Wauters, seven-foot-two-inch center Margo Dydek, two-time Sixth Woman of the Year Dearica Hamby, and three-time league MVP A'ja Wilson.

In 2002, the Starzz made it to the playoffs again, and this time beat the Houston Comets in the Western Conference Semifinals 2 games to 1.

Their playoff run ended in the Western Finals, however, as they were swept aside by the eventual champs, the Los Angeles Sparks.

The Starzz then looked for local Utah potential buyers, but none were found, leaving the franchise with the choices of either being sold to out-of-town investor(s) or folding.

For the first four seasons (2003–2006) after moving to San Antonio, the franchise was unable to change its old losing trend and did not make the playoffs.

They acquired stars Becky Hammon, Ruth Riley, and Sandora Irvin in trades, selected Helen Darling in Charlotte Sting's dispersal draft, drafted Camille Little in the second round, signed Erin Buescher during the off-season, and retained key players, such as Marie Ferdinand-Harris, Vickie Johnson, Shanna Crossley, Kendra Wecker, and Sophia Young.

After an average start, the Stars seized control of the Western Conference and rode to the best record in the West, and the first seed in the playoffs.

The NBA and WNBA approved the sale of the Stars to MGM Resorts on October 17, 2017, with the intention of relocating the team to Las Vegas and playing at the Michelob Ultra Arena starting in the 2018 season.

On January 14, 2021, Mark Davis and his mother Carol, owners of the Las Vegas Raiders, agreed to purchase the team from MGM.

[10][11][12] In May 2021, Davis hired former LSU Lady Tigers basketball head coach Nikki Fargas as team president.

On March 6, 2024, the Aces debuted new uniforms and a new silver and black color scheme matching that of Davis's other team the Raiders.

[16] On May 17, 2024, the Las Vegas Convention and Visitors Authority (LVCVA) announced that they would be gifting each player on the 2024 Aces roster a $100,000 sponsorship.