On November 30, 1939, at one end of what was once the Erie Canal, the cornerstone for Buffalo's new arena, set to replace the aging Broadway Auditorium was laid. On October 14, 1940, opening ceremonies for the 422' by 262' auditorium, which boasted 12,280 tiered red, blue and gray-colored seats were held. A parade and a 3,000-person luncheon were held at the new Auditorium, described as one of the largest civic celebrations ever held in Buffalo. The Memorial Auditorium was formally dedicated in memory of those who died in World War combat.

An $8.7 million renovation was undertaken to welcome in the NHL expansion Buffalo Sabres in 1970, raising the 2,200-ton roof 24 feet to expand the seating capacity to 18,000. The Aud remained the home of the Buffalo Sabres through the 1995-96 season, before being closed as the state-of-the-art Marine Midland Arena, now known as KeyBank Center opened its doors to NHL action in the fall of 1996.