[2] The Silverdome was built at an estimated cost of A$4 million, as the Tasmanian Government "proposed a world class facility" to replace the run down velodrome in the Launceston suburb of St Leonards.

In January 1985, the facility's opening coincided with the City of Launceston Cycling Club Championships.

Although "custom built for cycling", the Silverdome has hosted various concerts and other sporting events.

[5] The first match was held on 13 April when the New Zealand Breakers lost to the Perth Wildcats in overtime.

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