The theatre, located in Carré Marigny, at the corner of Avenue des Champs-Élysées and Avenue de Marigny, was built in 1880 by Charles Garnier, architect of the Paris Opera on the site of the former Cirque-Palace of the Champs Elysées.

The room was further enlarged and modernized in 1925 by its new director, Léon Volterra, already at the head of the Paris theater and Eden.

The theater is the scene in 1912 of one of the first scams of Alexander Stavisky, then only 23 years old....

Stavisky rented the theater from the City of Paris for the summer season, it being closed during this season. Stavisky publishes classified ads in Le Matin and Le Petit Parisien to recruit employees: "administrator, secretary, tobacconist, buffet dealers, flowers, sweets, weavers, advertising for the curtain, program, etc." To each candidate they ask for the payment of a deposit to allow them to pay the rent of the lease.

But Stavisky keeps the money to himself, never settling his debts to the city. Prosecuted, war breaks out and he narrowly escapes prison.