The old stadium, known as the Wörtherseestadion, was built in 1960 and had a capacity of 10,900. It was demolished in 2005 and replaced by the new Hypo-Arena, also known until 30 June 2007 by the name "Wörtherseestadion".

It was one of the 8 stadiums hosting the 2008 European Football Championship, for which it was built to hold 32,000 spectators. It is being considered whether the stadium should be reduced to the capacity of 22,000 after the event. Arena successfully hosted a lot of world’s music stars.