Construction began in 1989, with the intention to open the tower by April 1993. Originally, the tower was going to include six attractions, but this was dropped to four in order to save money, and include quality over quantity. The tower opened for the first time on 13th June, 1992, although the attractions did not receive significant unique branding until the mid-90s.
The Gutstone Tower Limited was founded in 1988, whose chairman since its founding has been Marc Rainrivers.
In 2006, Arenaplay attempted to buy ownership of Gutstone Tower for €10 million, but were unsuccessful in doing so.
Located on the rooftop of the tower, Gutstone Heights is the highest viewing sight in settlement. Most of the area features artificial turf. Prior to 1999, visitors would climb up a large set of stairs to the top, until a lift was implemented in September 1999. The history of the building's construction and evolution is displayed on the inner walls.