In July 2005, Llandudno's Arcadia Theatre was demolished to make room for a new atrium and meeting rooms for the North Wales Theatre and Conference Centre. The building also benefited from an extension to the west. The result was a modern, flexible entertainment complex capable of hosting 1800 people seated, or 2500 people standing. The overall capacity for the site, which also gained a new cafe, restaurant, box office, and office space, grew to over 5000 people. It was decided that, as part of the redevelopment, the theatre and conference centre also needed a new name. Following a competition to find a suitable candidate, Venue Cymru was chosen.
Located just across from picturesque Llandudno Bay, Venue Cymru has hosted a number of major events over the years, including concerts from bands like Manic Street Preachers, and professional snooker and darts tournaments. The site was chosen as host venue for snooker's 2023 Welsh Open.