Four masked men – one armed with a shotgun and a second with a machete - burst into the Wellington Inn on Wetherby Road, on the outskirts of Leeds, shortly before closing time on Sunday.
Police said that the raiders threatened staff and customers before forcing them to hand over cash – understood to be a four-figure sum.
The four then fled on foot, heading towards Leeds.
The general manager at the pub, Neil Simpson, told the YEP today it had been a particularly distressing incident, particularly for some of the young women who worked there.
"I wasn't working on Sunday night, but it was absolutely distressing for those that were, to have people coming in with weapons and threatening their lives," he said.
"Some of the young lasses who work here part time are so upset they might not return to work. It has clearly hit them quite hard."
Today, Det Sgt Craig Jennings, of North East Leeds CID, said: "Clearly, the staff and customers were put through a terrifying ordeal. Fortunately, no shots were fired and no-one was injured".
The raid happened shortly after 10.30pm on Sunday as staff were preparing to close for the night.
The gang was last seen heading towards the nearby Esso garage, on the Leeds side of the pub.
Detectives are trying to establish whether the robbers had a getaway car parked up nearby.
Det Sgt Jennings added that a bus passed the pub at about the time the robbers fled and he urged anyone who had seen anything suspicious to contact police.
He said they also wanted to hear from anyone in the area if they had seen anything suspicious. Callers should ring 0845 6060606 and ask for Killingbeck CID office.
david.bruce@ypn.co.uk