The demolishing of Astor was in 1998. When building the Santander Arena, there were steps to preserve Art Deco chandelier and gates of Astor. The Santander Arena is managed by SMG, and it owner is the Berks County Convention Center Authority. In 2000, the building that was called Rajah Shrine Theater at the time was purchased and after restoration, the name was changed to Sovereign Performing Arts Center.
The name of Santander Arena was given to the arena in October 13, 2013. Several sports teams play their home games at the arena including the indoor lacrosse team Reading Rockets, the ECHL team Reading Royals. Before, the basketball team Reading Railers, and the football teams New York Majesty and Reading Express used to play in the arena.
The arena is consisted of 20 luxury suites as well as 701 club seats. And a surface of about 25,200 square feet is reserved to banquet space on the floor. The arena is capable of hosting large small functions as well as large ones with the use of Reading Eagle Theater. A multi-use room with a surface of about 4,575 square feet is available to hold functions with 200 guests.