A well-to-do theater housed in a historic building just off Waterdeep's Market. During the day, it puts on more light-hearted plays, operas, and ballets. Come evening, the theater hosts more dramatic or tragic fare.
It is well-known for its grand circular stage and its reputation as a bastion of high arts and culture in Waterdeep; a singer or actor who headlines here will not be wanting for work for some time. In more recent times, it has also become noteworthy for its excellent stage effects.