MyState Bank Arena

What MyState Bank Arena does

MyState Bank Arena is an indoor entertainment and events venue located in Glenorchy, Tasmania, Australia, with a maximum capacity of 8,500 patrons. Originally opened as the Derwent Entertainment Centre (DEC), it was rebranded following a $56 million redevelopment completed around 2021 and now operates under a three-year naming rights agreement with MyState Bank signed in 2021. The venue serves as the home arena for the Tasmania JackJumpers of the National Basketball League (NBL) and functions as Tasmania's primary mid-to-large scale indoor facility for touring concerts, sporting events, conferences, exhibitions, and corporate functions.

The venue is operated by LK Stadiums (Tas) Pty Ltd as trustee for the LK Stadiums (Tas) Discretionary Trust (associated with the LK Group led by Larry Kestelman), while the underlying real estate is owned by the Tasmanian State Government. Technical and operational infrastructure includes venue-wide WiFi, digital broadcast systems, premium hospitality suites branded as Sky Suites, and a fully cashless point-of-sale environment implemented in 2022. Ticketing is processed through Ticketek. Complementary in-venue product lines include the SHIVER branded ice rink and seasonal event programming such as the Atlantisite activation, extending utilization beyond traditional arena formats.

Revenue is generated through multiple streams: ticket sales and ticketing fees, venue hire, catering and concessions, corporate hospitality and premium suites, parking, and naming rights sponsorship. Customer segments span touring entertainment promoters, the NBL anchor tenant, corporate and conference clients, and community event organizers. As of October 2023 the venue employed approximately 260 staff. The adjacent Wilkinsons Point precinct is being developed by LK Group with a $150 million retail, restaurant, and hotel project intended to create an integrated entertainment and hospitality ecosystem around the arena.

Name

MyState Bank Arena

Legal name

LK Stadiums (Tas) Pty Ltd as the Trustee for LK Stadiums (Tas) Discretionary Trust

Website

https://mystatebankarena.com.au

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

MyState Bank Arena is an 8,500-capacity indoor entertainment venue in Glenorchy, Tasmania, hosting concerts, sporting events (Tasmania JackJumpers NBL), conferences, and corporate functions, operated by LK Group under a MyState Bank naming rights deal.

Ownership category

akta.pro rank

Product category

Entertainment Venue Services

NAICS

Promoters of Performing Arts, Sports, and Similar Events with Facilities (71131), Full-Service Restaurants (722511), Drinking Places (Alcoholic Beverages) (722410)

SIC

Services-Amusement & Recreation Services (7900), Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Arena & Stadium Operations (Large-Capacity Venues) (MPAGALAA)

akta.pro secondary industries

Sports & Arena Event Venues (Stadiums, Arenas) (THAHAAAF), Venue Food, Beverage & Hospitality Operations (Concessions, Catering, Premium Seating) (MPAGALAN), Concession & Stadium / Arena Catering (THAFAIAG)

Keywords

• Event venue hire
• Entertainment venue
• Corporate event hosting
• Sports arena
• Live event space

Headquarters

HQ city

Glenorchy

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Event Ticket Sales: Revenue generated through ticket sales for concerts, sporting events, family shows, and other entertainment. Official ticketing partner is Ticketek.
2. Venue Hire: Hiring of Main Arena, Derwent Room, and meeting rooms (Tamar & Huon, Mersey & Franklin) for corporate events, conferences, gala dinners, exhibitions, product launches, and private events.
3. Catering and Food & Beverage: In-house catering services for events including bespoke menus, bar services, and corporate hospitality packages.
4. Corporate Hospitality and Sky Suites: Premium Sky Suite experiences with private bar, gourmet food packages, personal host, and exclusive access. Also includes Corporate Box experiences for events.
5. Naming Rights Sponsorship: Three-year naming rights sponsorship with MyState Bank, providing brand visibility and community connection.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

MyState Bank Arena is Tasmania's premier multi-purpose indoor entertainment venue operating as a venue hire and event hosting business. The venue rents out its Main Arena (capacity up to 8,500), Derwent Room, Meeting Rooms (Tamar & Huon, Mersey & Franklin), and Sky Suites for concerts, sporting events, conferences, exhibitions, gala dinners, and corporate functions. It also generates revenue through ticket sales for hosted events, in-house catering services, premium Sky Suites and Corporate Box hospitality, and operates seasonal offerings like SHIVER (Tasmania's only real ice rink).

Product overview

MyState Bank Arena is a multi-purpose entertainment and sporting venue in Tasmania, offering a comprehensive suite of event spaces and hospitality services. The venue operates a platform-plus-modules model with its core Main Arena (up to 8,500 capacity) and flexible Derwent Room and Meeting Rooms (Tamar, Huon, Mersey, Franklin) as foundational spaces, enhanced by premium add-on services including Sky Suites hospitality packages, in-house Catering Services, and IT & Audio Visual production support. The venue also runs seasonal offerings including SHIVER (Tasmania's only real ice rink) and the Atlantisite winter event. The venue serves diverse event types from concerts and sporting events to conferences, gala dinners, and corporate functions, managed and operated by LK Stadiums (Tas) Pty Ltd.

Differentiator

Problem solved

Functional benefit

Brands

• Sky Suites: Exclusive premium space with private bar, gourmet food packages and personal host for events
• Shiver

Products and services

• Main Arena Venue Hire Primary event space with maximum capacity of 8,500 people, featuring a 60x40ft stage, 20-metre ceiling height, 30-tonne roof capacity, retractable seating, reduction curtaining, vehicle access for semi-trailers up to 4.2 metres high, state-of-the-art audio-visual equipment, and ceiling rigging. Suitable for concerts, sporting events, conferences, and large-scale productions.
• Derwent Room Venue Hire A light-filled function space with views over the Derwent River and GASP, featuring natural light, private bathrooms, Wi-Fi, free onsite parking, in-built coffee machine and bar. Suitable for conferences, meetings, or events, transforming from breakfast to dinner settings.
• Tamar & Huon Meeting Rooms Venue Hire Meeting rooms perfect for small to medium groups in an intimate setting, configurable as one large room or two small rooms divided by concertina doors. Ideal for meetings, seminars, conferences, and training sessions.
• Mersey & Franklin Meeting Rooms Venue Hire Meeting rooms perfect for one-on-one training or interviews, adjacent to the Tamar & Huon Rooms. Serve as breakout spaces for groups of 5 or 6 people.
• Sky Suites Premium Hospitality Exclusive premium spaces with private bar, gourmet food packages, and personal host. Accommodates up to 16 guests. Designed for entertaining, networking, or enjoying events with first-class service.
• In-House Catering Services In-house catering team providing bespoke menus designed around themes or budgets. Offers creative food with engaging flavours and professional service staff for events of all sizes.
• IT & Audio Visual Production Services In-house technical team providing flawless production support. Offers state-of-the-art audio-visual equipment, three WiFi connections (public, secure, and broadcasting), digital broadcast software, screens throughout concourse, concessions, corporate spaces, and digital cube in main area.
• SHIVER Ice Rink Experience Seasonal winter ice skating experience featuring a 30m x 15m rink with 30,000 litres of water. Offers daily public sessions, Adults-Only AFTER DARK themed sessions (Thursday-Saturday nights), and private bookings for school groups, corporate events, and community gatherings.

Quantifiable outcome

• 8,500 maximum capacity for concerts
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• MyState BankcoreGTM or Marketing Partner · 9 June 2021Three-year naming rights sponsorship of the venue. MyState Bank is the ASX-listed (MYS) non-operating holding company consisting of MyState Bank and TPT Wealth. The sponsorship provides brand visibility, community connection, and opportunities to reward customers through exclusive offers.
• LK Stadiums Tasmania / LK GroupcoreStrategic or Co-development PartnerLK Stadiums (Tas) Pty Ltd operates and manages MyState Bank Arena as the Trustee for LK Stadiums (Tas) Discretionary Trust. LK Group, led by Larry Kestelman, is responsible for the redevelopment and ongoing operation of the venue. LK Group acquired Wilkinsons Point and partnered with the Tasmanian Government.
• TicketekcoreChannel Partner/ Reseller/ DistributorOfficial ticketing partner for MyState Bank Arena. All tickets for events are sold through Ticketek. When purchasing tickets, Ticketek may disclose personal information to the venue for operational and promotional purposes.
• Beacon FoundationminorStrategic or Co-development PartnerPartnership providing students with workplace experiences and career development opportunities in the events and entertainment industry. Students gain insight into event operations, hospitality, customer service, venue management, and technical services.
• Life Without BarriersminorStrategic or Co-development PartnerPartnership in 2026 to provide complimentary access to SHIVER (winter ice skating event) for young people and families who may not otherwise have the opportunity to attend. Aligns with LK Group's Larita Academy values.
• VOS Construction and Joinery Pty LtdcoreImplementation/ SI/ Consulting PartnerTasmanian-based builder awarded the contract for the major redevelopment of the Derwent Entertainment Centre. Works included Stage One and Stage Two of the venue upgrade, completed to meet the 2021-22 NBL season timeline.
• Tasmanian State GovernmentcoreOthersGovernment owner of the Derwent Entertainment Centre, contributing $56 million towards the redevelopment. The sale of Wilkinsons Point to the government and LK Group partnership enabled the venue transformation.
• Glenorchy City CouncilminorOthersLocal government authority that previously owned the Derwent Entertainment Centre before selling to the Tasmanian State Government and LK Group.
• Frontier TouringminorChannel Partner/ Reseller/ DistributorTouring company presenting major concerts at the venue, such as Paul Kelly's 2025 Australia & New Zealand arena tour.
• Tasmanian Symphony OrchestraminorStrategic or Co-development PartnerPerforming arts partner collaborating on special events such as The Cat Empire with the Tasmanian Symphony Orchestra and Art of the Score: The Music of John Williams concerts.
• Hahn How GoodminorGTM or Marketing PartnerSponsor of the Hahn How Good Bar at the Ice Hockey Classic 2026, providing exclusive pre-game hospitality access for Corporate Box and VIP guests.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• ASM Global: Global venue management company operating hundreds of arenas, stadiums and convention centers worldwide. Comparable as a venue operator running multi-purpose indoor arenas with similar revenue streams (ticketing, catering, premium hospitality, naming rights) at much greater scale.
• AEG (Anschutz Entertainment Group): Global sports and live entertainment conglomerate that owns/operates arenas and promotes tours worldwide. Comparable as a broad arena operator and promoter whose facilities and content ecosystem parallel the venue operator/promoter partnership model used by MyState Bank Arena.

Direct peers

• Spark Arena: Auckland's flagship indoor arena hosting international concerts, sporting events and family shows. Comparable as a similar-capacity indoor arena in a geographically isolated Pacific market, relying on a comparable mix of touring content and corporate venue hire.
• Rod Laver Arena: Melbourne's primary indoor arena at Melbourne Park, hosting Australian Open tennis, concerts and major touring acts. Directly comparable as a multi-use indoor arena with comparable revenue streams (ticketing, corporate hospitality, premium suites) and similar event programming model.
• Adelaide Entertainment Centre: Adelaide's indoor arena hosting concerts, sporting fixtures and exhibitions. Directly comparable as a multi-purpose Australian arena with similar capacity, tiered seating configurations, premium hospitality offerings and touring-producer revenue model.
• Brisbane Entertainment Centre: Brisbane-based indoor arena hosting concerts, sporting events and family shows. Comparable as a multi-purpose Australian arena with similar capacity (~13,000), venue hire offerings, and reliance on touring promoter partnerships.
• Qudos Bank Arena: Sydney's flagship indoor arena with ~21,000 capacity, hosting major concerts, sporting events and family shows. Directly comparable as a multi-purpose indoor arena monetizing ticketing, venue hire, premium hospitality and catering across a similar event mix.
• RAC Arena: Perth's principal indoor arena with ~15,500 capacity for concerts. Directly comparable as a multi-purpose Australian arena with similar event mix (concerts, sport, family entertainment) and revenue model combining ticket sales, corporate boxes and venue hire.

Others

• International Convention Centre Sydney (ICC Sydney): Large-scale convention, exhibition and entertainment venue in Sydney. Comparable as a multi-purpose event venue combining corporate conferences, exhibitions, gala dinners and live entertainment, with a similar premium hospitality and catering monetization model.
• TEG (Ticketek Entertainment Group): Australia's largest live entertainment and ticketing group, and MyState Bank Arena's official ticketing partner. Comparable as the integrated ticketing, touring and venue management counterpart in the Australian live entertainment value chain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MyStateBankArena
• Instagraminstagram.com/mystatebankarena

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MyState Bank Arena