The Hippodrome, formerly known as the McElroy Auditorium, is a 5,155 permanent seat multipurpose arena located in Waterloo, Iowa.

The arena was named in honor of R. J. McElroy beginning around 1965, after the Waterloo broadcaster and philanthropist unexpectedly died.

It housed the USHL's Waterloo Black Hawks from their inception in 1962 until Young Arena opened in 1994 and the Iowa Stars Central Professional Hockey League during the 1969–70 season.

The Hippodrome currently host the Iowa Woo team of The Arena League, which began play in 2024.

It has hosted a variety of acts such as Glenn Miller and his Orchestra, Red Skelton, Buddy Holly, Johnny Cash, KISS, Aerosmith, The Beach Boys, Rush, Garth Brooks, Miranda Lambert, Blake Shelton, Destiny's Child, Jason Aldean, Roy Clark, Rob Zombie, Disturbed, Dierks Bentley, Nelly and Gym Class Heroes among many others in the past years.