Although located on the campus of the University of North Dakota the arena and land itself is owned by The Engelstad Family Foundation and rented conditionally to UND each year for $1.

In 2015 the Ralph Engelstad Arena received a certificate of excellence from Trip Advisor for being one of the top rated destinations in America.

[6] During the COVID-19 pandemic the Ralph was being considered by the NHL to potentially host playoff games due to North Dakota's low population density and the high quality of the REA.

[7] Midway during construction, Ralph Engelstad threatened to withdraw his funding if UND's Fighting Sioux sports teams were renamed in deference to political pressures.

A preliminary injunction was granted that would have allowed the Fighting Sioux to both host post-season events and wear their regular uniforms while the lawsuit was in progress.

The REA hosted the West Regional in the 2006 NCAA Men's Division I Ice Hockey Tournament, with North Dakota playing in its home building.

Non-ice events at the REA have included concerts, by artists such as Tim McGraw, Brad Paisley, Sugarland, Kenny Chesney, Rascal Flatts, Toby Keith, Kelly Clarkson, Reba McEntire, Carrie Underwood, Clay Aiken, Incubus, Elton John, Eric Church, Little Big Town, and Florida Georgia Line, and a tennis match between Andre Agassi and Andy Roddick.

[2] The Ralph and Fargo's Scheels Arena share hosting duties for the North Dakota High School Activities Association State Boys' and Girls' Hockey Tournament, usually taking place during the last weekend in February.