In 1990, the rink opened as the Bladerunner Arena as part of the brand new Leisure Plaza complex, located close to Milton Keynes Central railway station.

In addition to the ice rink, the new complex also featured Flamingo's nightclub, Megabowl 10-pin bowling alley, Cafe Moonshine (later Heroes sports bar), an Argos superstore and Homebase centre.

[citation needed] Bladerunner would regularly sellout on Kings game nights and would often have to turn customers away due to the success of their public ice skating sessions.

In addition to the MK Kings re-formation, Planet Ice reached an agreement with Anschutz Entertainment Group for their newly formed Superleague side London Knights to use the arena as their training base.

The Knights left Milton Keynes in the summer of 2000, moving to Lea Valley to be based closer to their home arena.

The next year in 2001 saw the formation of a new senior ice hockey team, Milton Keynes Thunder to play at the fourth level of English ice hockey, key for local players not good enough to make the step up to the Kings team who had by now moved up to the second tier British National League.

[5] In June 2018, Strong Style Evolved UK, a two-day professional wrestling event promoted by New Japan Pro-Wrestling, took place at the Planet Ice Arena.