It was built as the speed skating rink for the 1994 Winter Olympics, and has since also hosted events and tournaments in ice speedway, motorcycle speedway, rally, association football, bandy, ice sledge speed racing, flying disc and track cycling.

[3] In its bid, the speed skating events were planned held at Stampesletta area, on another temporary track.

In December 1989, it was decided that the new venue would be built at Åkervika, a Ramsar site 1 kilometer (0.6 mi) outside downtown Hamar.A compromise was reached whereby the stadium was moved 50 meters (160 ft) from its original location, two birdwatching towers were built, and a lumber yard was moved.

[5] Nature and Youth remained opposed to the plans, stating the location "has destroyed part of one of the world's most important bird reserves".

Two days later, the Lillehammer Olympic Organizing Committee (LOOC) signed a sponsorship agreement with Norsk Viftefabrikk and Elektrisk Bureau, both part of Asea Brown Boveri, which demanded discounts in their sponsorship payments for not receiving the contract.

[9] In September 1992, Investa, which owned Ole K. Karlsen, filed for bankruptcy, causing delays in construction.

[10] When it opened, Vikingskipet was the largest indoor sports venue in the world, and has twice the spectator capacity of the Calgary Olympic Oval.

Hamar Municipality contributed by building a co-located fire station for NOK 21 million.

Moelven Industrier and Fireguard both contributed in exchange for being able to use the venues for marketing large wooden structures.

Lighting is provided at 1,400 lux, while the venue has a ventilation system capable of both heating and cooling, as well as de-moisturizing, and both re-use and circulation of air.

The refrigeration unit uses an ammonia and saline solution, which is transported in pipes within the concrete, which allows for an ice temperature of between −5.5 and −6.5 degrees Celsius (22 and 20 °F).

The venue was designed to also allow for association football, cycling, track and field, curling, motorsports and cross-country skiing.

[8] During the Olympics, transport was in part provided by Vikingskipet Station on the Røros Line, which passes right next to the venue.

In 2006, the Norwegian National Rail Administration proposed re-opening the station in conjunction with larger events.

The Norwegian Cycling Federation had originally bid for the championships to get a permanent velodrome built at Hasle in Oslo, but declined the offer and instead chose the temporary concept.

Because the velodrome only has a circumference of 250 meters (820 ft), the venue's spectator capacity was reduced to 3,000 people.

Koss and Jansen won their olympic golds setting new world record time on their distances.

Austria's Emese Hunyady won the 1500 meters ahead of Russia's Svetlana Bazhanova and Germany's Gunda Niemann.

The event would have used the same production equipment as for speed skating, and would have consisted of a four-team tournament for both men and women, and would have been held during the Games' two last days.

[31] Concerts held at Vikingskipet include Andrea Bocelli (2005),[32] Beyoncé (2007),[33] Cliff Richard (2007),[34] and Stevie Wonder (2008).