Tasmania venue to redefine Tasmanian sport



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Australia MyState Bank Arena naming rights Image: MyState Bank Arena

The $56 million upgrade to the Derwent Entertainment Centre (largest indoor arena in Tasmania), which is in progress at Glenorchy (Australia) and when completed will become the heart of Tasmanian entertainment and sport, will be named MyState Bank Arena.

‘MyState Bank Arena’ stated that MyState Bank recently announced a three-year naming rights sponsorship of the venue which promises to put Tasmanian firmly back on the map for show-stopping entertainment and sport which is bound to steal the hearts away of all and sundry.

Managing Director and CEO, Melos Sulicich, MyState Bank, said, “It is a matter of great pride to be the naming rights’ sponsor of a venue that will see the old Derwent Entertainment Centre transformed to become the avant-garde MyState Bank Arena. The redevelopment will provide Tasmania with the ability to host major concerts and live performances, as well as becoming the home of the JackJumpers that will see the State re-enter the National Basketball League (NBL) after a 25-year hiatus.

Added Sulicich “It will be the center of entertainment and sport in the State and we are excited to be a part of this great initiative. The MyState Bank Arena will give Tasmanians a never-before experience in terms of comfort, enjoyment and entertainment.”

MyState Bank had big ambitions for growth over the next 12 months and beyond and this meant it needed to grasp big opportunities when they presented themselves.

Sulicich continued, “The venue naming rights is one such opportunity and it will certainly put MyState Bank firmly on the map, both in Tasmania and nationally. It will help us become a much more recognized brand name and provide a solid platform for our future growth. Importantly, it strongly connects us to the Tasmanian community, something that is very close to MyState’s ethos and provides us with the opportunity to reward and incentivize our customers through exclusive offers and benefits.”

Sulicich observed that the naming rights’ sponsorship of the MyState Bank Arena was the beginning of a really exciting growth period and future for MyState Bank – “We have determined a very focused and accelerated strategy that builds on MyState’s high customer advocacy that has given us a significant opportunity to rapidly grow our business. The MyState Bank Arena naming rights is a major promotional component of that strategy.”

The redevelopment of MyState Bank Arena, along with future operation and management of the venue, is being led by the LK Group.

LK Stadiums Tasmania Director and LK Group Chairman Larry Kestelman remarked, “It is fantastic to have such a great Tasmanian brand in MyState Bank on board as the naming rights partner for the refurbished Derwent Entertainment Centre. MyState Bank Arena will be a game changer for Tasmania’s entertainment and sport industry. The world-class, state of the art venue will bring the biggest events to Tasmania and give all Tasmanians experiences like never before. We are very excited that MyState Bank Arena will be the home of the Tasmania JackJumpers as they continue their march towards the 2021-2022 Hungry Jack’s NBL Season (read National Basketball League – Australia).”

The top shot added, “I also want to thank the Tasmanian Government and Glenorchy City Council for their constant support of the redevelopment of MyState Bank Arena which will boost jobs, tourism and economic activity for the State.”

The National Basketball League (NBL) is a men’s professional basketball league in Oceania, currently composed of 10 teams: 9 in Australia and 1 in New Zealand. It is the premier professional men’s basketball league in Australia and New Zealand.

MyState Limited is the ASX-listed (MYS) non-operating holding company of the diversified financial services Group consisting of MyState Bank and TPT Wealth, a trustee and wealth management company. MyState Bank is regulated by the Australian Prudential Regulatory Authority. MyState Bank and TPT Wealth hold Australian Financial Services Licences issued by the Australian Securities and Investments Commission.

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