From the cinematreasures.org website:
The Hippodrome opened Feb. 7, 1914 with live shows on stage. As the vaudeville era came to an end, the Hippodrome Theatre became a Paramount-Publix silent movie theatre. In 1928 a fire destroyed most of the building and when it reopened in 1929 as the Waco Theatre it had a Spanish Colonial façade.
The facility remained in use as a movie theatre and performance venue while undergoing renovations in 1936, 1961 and 1971. During this time, a number of celebrities performed and visited the Waco Theatre. Elvis Presley performed on stage, as well as taking in a movie while stationed in Fort Hood. The largest crowd ever gathered at the Waco Theatre was over 10,000 people to see John Wayne in town to promote one of his pictures.
The Waco Theatre remained open until the late-1970’s, but an increasing number of customers turned to newer movie theatres in suburban areas, ultimately causing the theatre to shut its doors. The Waco Theatre remained unused until 1980, when the Junior League of Waco began the process of restoring the Waco Theatre. At the time, Waco was in need for a performing arts venue, and the empty Hippodrome Theatre fitted the bill.
The Waco Hippodrome Theatre was reopened on February 28, 1987 and became listed on the National Registry of Historic Places. The facility was operated by the Waco Performing Arts Alliance and offered a variety of live theatre performances in the building until 2009-2010 when the Hippodrome Theatre once again closed its doors.
In December 2012, local developers Shane Turner and Cody Turner purchased the Hippodrome Theatre and began its current renovation. The theatre retained its classic look, but took on a few new changes. Inside the theatre, a retractable wall and movie screen was added to the balcony giving the building the capability to show two films simultaneously. The seating was refigured to be more stadium-like, as well as to give means for flexible seating with or without tables for dining. The second floor lobby has been renovated into a bar. An addition was constructed facing S. 8th Street that features two kitchens, a concession stand, a full-service restaurant and handicapped accessibility with restrooms on each level and an elevator to connect the floors.
While native Wacoans remember the Waco Theatre as a movie theatre, the Hippodrome Theatre has always been a performing arts center in one form or another. The new Waco Hippodrome Theatre opening in 2014 will offer first-release films, along with classic films, live theatre, concerts, stand-up comedy, dance and much more. The Hippodrome Theatre is set to entertain Waco for another century.