Opened in 1997, the venue is located on Queenstown Lakes District Council–owned land and is a multi-purpose indoor and outdoor venue. The Stadium has a capacity of 19,000 spectators with 6,000 permanent seating and normally 13,000 temporary called in.
Regarded as one of the most spectacular international cricket venues in the world, the ground is located between the foot of the Remarkables and the shores of Lake Wakatipu with Queenstown International Airport's Runway threshold nearby affording amazing views of large aircraft taking off and landing. The venue hosts regular international cricket matches, as well as several Highlanders rugby games, trade shows, exhibitions, seminars and concerts. It is also a "home ground" for Otago Cricket.
On January 1, 2014, at the Queenstown Events Centre New Zealand Black Caps' Corey Anderson broke Shahid Afridi's 17-year-old record of the fastest ODI hundred by one ball, scoring his in 36 balls. He eventually ended with an unbeaten 131 that featured 14 sixes and 6 fours  Along with Jesse Ryder, he helped New Zealand set the team record for the most sixes in an ODI innings.