The arena was completed in May 2004, and officially opened on July 30, 2004, shortly before the beginning of the 2004 Summer Olympic Games. After the 2004 Olympics, Galatsi Olympic Hall served as the home court of the Greek Basketball League club AEK BC, before the team moved to the larger Olympic Indoor Hall in 2006. The arena was then turned over to the private sector (Acropol Haragionis AE and Sonae Sierra SGPS S.A), and was used as a shopping center.
In autumn of 2015, the hall was used as temporary shelter for migrants.[3]
In autumn 2018, Galatsi Olympic Hall was re-established as Christmas Theater, where various artistic and cultural events started taking place. It has the capacity of 100.000 spectators but, due to the Sars-coV-2 pandemic, events ceased in spring 2020. For Christmas 2020, some events were scheduled online and in summer 2021 live events started anew.