The demise of the franchise was precipitated by the refusal of UNLV officials to negotiate with team owners regarding a new agreement to continue playing at the Thomas & Mack Center after the 1998–1999 season.

They topped that performance in 1995–1996 when they again finished with the league's best record (122 points, 57–17–8).

Throughout the team's history they garnered player development deals with the Phoenix Coyotes of the NHL, the ECHL's Knoxville Cherokees and Mississippi Sea Wolves and Russian side Lokomotiv Yaroslavl.

The Thunder's main rivals included the Denver/Utah Grizzlies, Los Angeles/Long Beach Ice Dogs, San Diego Gulls, and Phoenix Roadrunners.

Note: GP = Games played, W = Wins, L = Losses, T = Ties, OTL = Overtime losses, Pts = Points, GF = Goals for, GA = Goals against, PIM = Penalties in minutes