Owner Pete Innes-Jones confirmed yesterday the bar was "categorically not going to be open" today.
That meant the North Dunedin bar closed its doors for business last night at midnight. The decision was his and was the common-sense one, Mr Innes-Jones said.
"We don't want to fuel idiocy ... and what we'd make [today] we'd lose in stress and damage. It's just not worth it. This weekend should be about the rugby."
Large crowds were expected at the popular student haunt before it closed this weekend, following its sale to the University of Otago.
The New Zealand v Wales rugby test match being played at Carisbrook tonight is also expected to draw a big crowd to North Dunedin.
In anticipation, Dunedin authorities put a liquor ban in place, visited student flats and planned a large emergency service presence in North Dunedin.
The pub, known as The Gardies, is in Castle St, where the arrival of the Undie 500 sparked mass disorder in recent years.
The university has not disclosed the purchase price or how it will use the site, but has said it will not continue running it as a bar.
Mr Innes-Jones said anyone who turned up to the pub would be turned away by security guards. He denied rumours the decision to close last night was made after reaching a financial arrangement with Otago University.
When asked if it had approached Mr Innes-Jones about closing the bar this weekend, an Otago University spokeswoman said the university had no comment.
The university will take possession of the site on Friday.
Mr Innes-Jones said security guards would be on 24-hour duty for the next week to protect the property from vandalism.
Dunedin police emergency group team leader Inspector Alistair Dickie said the police operation for the weekend would continue as planned.
Police are putting on free buses from North Dunedin to the central city after 9pm.
Hundreds of people of all ages filled the Gardies bar early last night, reminiscing about "the old days".
Brothers Bruce Swift, from Dunedin, and Ray Swift, from Christchurch, and their cousin Terry Swift, from Nelson, said they were at the Gardies on its opening night and "had to be here" for its closing night.
Not students, they were regulars through the 1970s, attracted by students "and the girls", Terry Swift said.
A group of Welsh tourists in town for the rugby said they had read about the Gardies last night on the internet and "thought it sounded like a good party".
Former students Joey Johns, Chris Bird and James Spence said they travelled from Auckland to celebrate the last nights of the Gardies and the last All Black game at Carisbrook.
"These [their time in Dunedin] were the best years of our life," Mr Johns said.
