The arena was one of the last places to host a WWF, now known as WWE, event Capital Carnage in 1998.
It never managed to become a financial success, in part due to its fairly poor transport access, and in 2005 it closed. It has been superseded as the main arena in East London by The O2 arena, which is in The O2 entertainment complex (formerly the Millennium Dome). In December 2005, it housed the annual 'Crisis Open Christmas' event (held the previous year in the Dome), organised by the London-based charity Crisis. This provides food, accommodation, various medical and social services and company to around 1,500 guests and 3,500 volunteers each Christmas. The London Arena was demolished in June 2006 and is set to be replaced by a mainly residential development.