[1] During its original run as the Punters Club, it developed a reputation as one of the city's premier live music venues, drawing comparisons to the likes of New York's CBGB.

The venue helped launch the careers of a number of successful Australian bands, including Frente!, Magic Dirt, Something for Kate, Spiderbait and You Am I. Mat Everett took over the Club in 1993 and operated it for the remainder of its life.

Records (with their Zoetrope (sessions) and Clan Analogue, and regularly played host to live acts like Zen Paradox, Little Nobody, Artificial, Andrez Bergen, Voiteck, TR-Storm, Blimp, Son Of Zev, Isnod, Soulenoid, Guyver 3, Frontside, Half Yellow, and Honeysmack.

The club closed its doors on 17 February 2002, with a twelve-hour music marathon that featured Gaslight Radio, Rocket Science, Pre-Shrunk, TISM and The Beat End Profilers.

On 27 and 28 November 2010, Punters Club reunion gigs were held at the Corner Hotel in Melbourne, featuring bands such as Spiderbait, Hoss, Guttersnipes, The Glory Box, Frente!, The Fauves and The Hollowmen.