Synthesizing several streams of theoretical reasoning such as attribution theory, cue-utilization theory, and place attachment, the purposes of this study were to (1) develop a new theoretical model integrating key atmospheric stimuli and the two dimensions of stadium attachment (stadium identity and stadium dependence) into stadium atmosphere research and (2) examine the hypothesized relationships. Data were collected from spectators attending professional baseball games at theme park-like (n = 242) and traditional (n = 300) stadiums. Based on the results, the dimensions of game-, spectator-, facility-, and organizer-induced stimuli were found to have positive effects on overall stadium atmosphere in both settings. Furthermore, the impact of overall stadium atmosphere on spectators’ conative loyalty was mediated by stadium identity. The theoretical model and results highlight the importance of stadium identity that is enhanced by stadium atmosphere and consumer satisfaction and leads to greater conative loyalty toward sport teams.