It was constructed in 1923. In 1955, it was acquired by the owners of the Winnipeg Warriors (minor pro) to provide a home for junior hockey following the construction of the new Winnipeg Arena and demolition of the Shea's Amphitheatre on Broadway. The ice plant from the Amphitheatre was purchased and relocated to the Olympic. The Winnipeg Braves and the St. Boniface Canadiens, both teams associated with the Warriors organization, played regular season games at the Olympic.