The theatre was created in 1939,it was called the Leningrad Variety and Revue Theatre. In 1943, an outstanding director and actor Arkady Raikin became its artistic director for almost 40 next years. He assembled a troupe of talented artists who made the theatre famous throughout the country. Among the stars that performed on its stage were Leonid Utyosov, Alexander Vertinsky, Eduard Khil’, Lidia Ruslanova. Since 2008, the position of artistic director has been occupied by Russia's honored artist Yuri Galtsev. Graduates of his course at the Russian State Institute of Performing Arts act on the stage of the theatre. The troupe's repertoire includes classical pieces, performances based on modern works and productions for children. Music and dance shows, concerts of famous musicians and creative evenings are also held here.