Regent Theatre manager Sarah Anderson received the award in front of more than 100 delegates at the Entertainment Venues Association of New Zealand awards dinner at Toitu Otago Settlers Museum this week.
She was ''delighted'' the Regent beat Auckland Civic Theatre for the prize.
''It proves we are punching well above our weight.''
Ms Anderson said award criteria included stakeholder engagement and satisfaction, asset management and growth and development.
''It's a fantastic acknowledgement of the work we've been doing since the theatre's refurbishment to develop Dunedin as one of New Zealand's main entertainment destinations and the Regent as its premier venue.''