The Margetts Theatre was named for Philip N. Margetts, a leading figure in theatre in Utah during the late 1800s and early 1900s. Philip Margetts was a cast member in the first play produced in the Old Bowery in 1851and organized the first stock company in Utah. 

The Philip N. Margetts Arena Theatre was conceived to give the director flexibility of audience placement as well as actor placement. The seating may be arranged in any part of the theatre and in any relationship to the acting area which the director may desire, thus allowing the director control of the audience-actor relationship. Such delicate dramatic values are difficult to project over large distances to a huge audiences. Seating capacity averages approximately 130 people.