One video, which showed a woman at Vault 21 drinking until she could not anymore, was labelled an act "at a high level of irresponsibility" by the Alcohol Regulatory and Licensing Authority.
The suspension of the Octagon bar and restaurant’s on-licence was called for by the Dunedin City Council, a decision issued by the authority said.
Judge Robert Spear said it was alleged the bar and restaurant promoted alcohol irresponsibly through acts which likely encouraged people to consume alcohol to an excessive extent.
Those acts took place in November last year when, as part of a sponsored Moët et Chandon event, a large ice sculpture of a "hollow oversized champagne wine bottle" was set up on the footpath outside Vault 21.
Staff allowed alcohol to be poured freely through one end of the vessel and was drunk by people "crouched below the mouth of the ice sculpture", Judge Spear said.
"Three videos extracted from Facebook show that this large ice sculpture was in full view of the passing public which, of course, this being the Octagon is at the very centre of Dunedin city."
One video retrieved showed a woman "drinking directly from the ice sculpture until she could obviously drink no more".
"This was, without question, an act at a high level of irresponsibility in relation to the promotion of alcohol."
It appeared the people shown in the videos were not young people or students, and in two of the cases involved "people of more mature years", he said.
Vault 21 owner Andre Shi had accepted the promotion of alcohol was irresponsible.
The initial explanation was the promotion only involved champagne being poured down the ice sculpture into a glass, limiting the amount available for consumption, Judge Spear said.
"However, the Facebook video posts were subsequently found that showed that the promotion was far more extreme."
Mr Shi had been willing to accept a 48-hour suspension, but the authority considered this would be an insufficient response to the offence.
"Particularly because this promotion happened out on the footpath in accordingly in full view of the public.
"We could have accepted a 48-hour suspension if this had happened inside the premises and away from the eyes of the passing public, but that was not the case."
The authority was aware Vault 21 was a popular venue in the middle of the city, but other outlets needed to understand what standards were acceptable and what were not.
A 72-hour suspension was reluctantly accepted by Mr Shi, Judge Spear said.
Vault 21 would not be allowed to sell alcohol from 8am tomorrow until 8am Saturday.
Judge Spear said the authority’s finding constituted a "negative holding" against the licensee company, AND Hospitality Group Ltd.
If the company received a total of three negative holdings within three years, an application would be made for the cancellation of its on-licence.
Vault 21 has been approached for comment.
