[3] In 2021, the arena was bought from BC Rytas by the Vilnius City Municipality for €3.56 million.

Before the 2022-23 season, Rytas only played their home games in the Jeep Arena for Lithuanian Basketball League fixtures and used the bigger arena for Basketball Champions League home games.

More important or highly anticipated matches in the LKL, as well as all home fixtures in European competitions (such as the EuroLeague or EuroCup), are played in the Twinsbet Arena.

Past tenants include now dissolved Lithuanian and European women's basketball powerhouse TEO and Lietuvos Rytas daughter club Perlas Vilnius.

After club was overtaken by new owners, the sponsorship was terminated and on 14 August 2018 the official name of the structure was changed to the Rytas basketball Arena.