Built within the quarried remnants of the Rarotonga / Mount Smart volcanic cone, it is located 10 kilometres south of the city centre, in the suburb of Penrose.

During the 1988 Great Britain Lions tour the Auckland rugby league team defeated the tourists 30–14 at Mt Smart before a crowd of 8,000.

It was where the New Zealand men's national football team (the All Whites) played all their home qualifying games for the 1982 FIFA World Cup.

This was the first occasion that New Zealand had qualified for a FIFA World Cup and the event captured the imagination of the nation with large crowds packing the stadium.

[1] Ericsson Stadium was the host of the Super League's 1997 World Club Championship Final between Australian teams the Brisbane Broncos and Hunter Mariners.

Ericsson Stadium hosted three-quarters of the 1999 Rugby League Tri-nations' games, including the final, which New Zealand lost 20–22.

Following the first rugby league test at the stadium in 1989, Australian captain Wally Lewis and teammate Peter Jackson both 'took the plunge'.

Mount Smart Stadium also hosted the first standalone NRL Women's Premiership match between the New Zealand Warriors and St. George Illawarra Dragons on 22 September 2019.

In a press release, the Auckland Regional Council, owners of the stadium, stated they had considered other offers, but felt they did not suit.