A gold(I)‐catalyzed cascade cyclization–alkynylation of allenoates using alkynyl bromide to generate β‐alkynyl‐γ‐butenolides was investigated. Whereas alkynyl iodides afforded significant amounts of the homo‐coupling of two lactone units, alkynyl bromides led to a selective reaction, and a broad functional group tolerance was observed. Under the optimized reaction conditions, it was possible to directly synthesize a large range of β‐alkynyl‐γ‐butenolides in moderate to good yields without the need for any external oxidant.