The arena was the home of the Cincinnati Stingers of the World Hockey Association from 1975 to 1979. Since then, the arena has hosted two minor league hockey teams and various concerts, political rallies, tennis tournaments, figure skating, professional wrestling, traveling circus and rodeo shows, and other events. The facility's longest-serving tenant was the Cincinnati Bearcats men's basketball program of the University of Cincinnati, who used the arena from its construction until 1987, when the team moved to Cincinnati Gardens and eventually to the on-campus Fifth Third Arena.

Until the opening of Fifth Third Arena at the University of Cincinnati and BB&T Arena at Northern Kentucky University, commencement ceremonies for both schools were held at Heritage Bank Center. On occasion, there have been local pushes for the attraction of another major sports franchise to occupy the arena, possibly a National Basketball Association (NBA) or National Hockey League (NHL) franchise. The Cincinnati Royals moved to Kansas City – Omaha in 1972, and were the last NBA team to call Cincinnati home. The NBA Cleveland Cavaliers have played preseason games at Heritage Bank Center.

In August 2019, it was announced that U.S. Bank would not be renewing its naming rights sponsorship of the arena, which had been in effect since 2002. Kentucky-based Heritage Bank assumed naming rights of the arena on November 4, 2019.

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