Theatre Royal Waterford | 354 followers on LinkedIn. Theatre Royal Waterford is Ireland’s oldest continually operating theatre. | In the 220 years since the establishment of the Georgian playhouse which was subsequently adapted in the late nineteenth century to the Theatre Royal we know today, Waterford has been renowned for its local musical and dramatic traditions. The Theatre Royal, often referred to as “the peoples theatre”, has been the traditional venue for this creative activity down through the generations. As such it is the home for long established amateur societies and has hosted the Waterford International Festival of Light Opera since its inception in 1958.