An alleged armed robbery at a local pub has left an elderly man stabbed, with the accused subdued by courageous patrons before police arrived.

A 30-year-old man allegedly armed with multiple weapons entered The Boatrowers Hotel on Fullerton St in Stockton, Newcastle, on Saturday night.

He allegedly threatened patrons, demanded cash from staff, and stabbed a 68-year-old man.

Know the news with the 7NEWS app: Download today

The suspect was held down by a group of patrons until police arrived about 7.50pm.

Police searched the man and allegedly seized several weapons, including a gel blaster firearm.

The 68-year-old victim, who left the scene before police arrived, was later found and taken to John Hunter Hospital.

Paramedics treated the accused at the scene before escorting him to the same hospital under police guard.

On Monday, the 30-year-old was charged with five offences: robbery while armed with a dangerous weapon, aggravated robbery with wounding or grievous bodily harm, wounding with intent to cause grievous bodily harm, possession of an unregistered firearm-pistol, and common assault.

He was refused bail and was due to appear before Newcastle Local Court on Monday.

Following the incident, the pub remained closed on Sunday “out of care and respect” for staff and patrons.

“Due to last night’s incident we have decided that the hotel will remain closed today out of care & respect to our brave staff and heroic patrons,” the pub said on social media on Sunday.

“We appreciate each and every one of you and are very grateful to be a part of such a selfless community.”