Central Energy Trust Arena is the current name of the 180,000 square meter publicly owned recreational complex just west of the Palmerston North city center in the Manawatū-Whanganui region of New Zealand.

It has three linked indoor stadiums with movable tiered seating. Outdoor facilities include football fields and a speedway track with a grandstand.

In June 2015, FMG Insurance chose not to renew the sponsorship deal for the main stadium name.

Originally founded in 1886 as the Palmerston North Showgrounds, its pavilion burnt down in a fire in 1977. It was replaced with a new stand, and the ground was reopened in 1981 as the Manawatu Sports Stadium. Since 1973 it has been owned by the Palmerston North City Council.

Central Energy Trust Arena has a capacity of 15,000. Temporary seating is added for major events, allowing the capacity to reach 20,000.

Central Energy Trust Arena is home to Manawatu Rugby. It is the home ground of the Manawatu Turbos, and also generally hosts one club game per week. Playing in the Air New Zealand Cup, crowd attendances at Turbos' games have been among the highest in the competition, averaging 7,000 per game.

Central Energy Trust Arena was formerly known as Arena 1 and FMG Stadium. It was the venue for the first ever Super 12 rugby match in 1996, which was played by the Wellington Hurricanes and the Auckland Blues.

The stadium was the host of the 1987 Rugby World Cup game between Wales and Tonga on 29 May. Wales won 29–16.