News Summary
Providence Place Mall is looking for a new operator for its cinema after National Amusements decided not to renew its lease by January 31, 2026. Following a court filing by the mall’s receiver to end the lease early, a hearing is set for October 3. Despite facing financial hurdles and evolving consumer habits, receiver Mark Russo is optimistic about finding a new cinema operator to maintain entertainment options at the mall. Recent trends show a shift in movie viewing preferences toward streaming services, putting further pressure on cinema operations.
Providence, Rhode Island — The Providence Place Mall is actively seeking a new operator for its 16-screen cinema following National Amusements’ decision to not renew its lease, which will expire on January 31, 2026. W. Mark Russo, the court-appointed receiver overseeing the mall’s operations, has filed a motion in the Providence County Superior Court to break the lease with the cinema operator before this expiration date, with a hearing scheduled for October 3.
In October 2024, the mall entered receivership after its owner, Brookfield Properties, defaulted on a $259 million mortgage loan taken out in 2011. Russo and his former law partner, John Dorsey, were designated to manage the mall during this process. Since taking control, the new management has implemented various improvements, including enhanced security measures and significant investment into the mall’s aging infrastructure.
In July 2025, Russo received court approval to market the mall for sale, aiming to have an official listing by September 2025. However, as of late September 2025, the property has yet to be listed publicly by the real estate broker Jones Lang LaSalle.
Russo remains optimistic about securing a new cinema operator, expressing confidence in the potential to maintain an entertainment experience at the mall. The Showcase Cinemas has been a long-standing tenant at Providence Place Mall since 2003 and also acquired the nearby IMAX Theatre in 2008. The cinema has accounted for approximately 9.8% of the mall’s annual rent as of January 2024, making it the second-largest rent contributor after Boscov’s.
Providence Place Mall spans 1.4 million square feet but has faced multiple financial hurdles due to evolving consumer habits and the loss of several key retail stores. The mall began experiencing significant challenges following the departure of its anchor store, Nordstrom, in 2019. Initially valued at $558 million in 2011, the overall property value had dropped to $240 million by May 2021.
The property is subject to an annual property tax of $500,000 under a tax treaty with the city of Providence, a contract that concludes in 2028. If taxed at the city’s commercial rates for the fiscal year 2025, the tax obligation could escalate to nearly $24.9 million.
Nationwide, the cinema industry has faced mounting competition from streaming services. Recent surveys indicate that roughly 75% of adults now prefer to watch new movies at home rather than in theaters. The COVID-19 pandemic further exacerbated the struggles of movie theaters, causing a shift in viewing preferences.
Russo’s motion in court aims to retain the existing equipment and furnishings in the theater, while also granting National Amusements the right of first refusal to be reimbursed at fair market value for any property they contributed.
Deeper Dive: News & Info About This Topic
- Rhode Island Current: Court Receiver Wants to Break Lease with Providence Place Movie Operator
- Providence Journal: Showcase Cinemas to Exit Providence Place Mall, Replacement Sought
- WPRI: That’s All Folks! Showcase Cinemas to Exit Providence Place Mall, Seeks Replacement
- Boston Globe: Providence Place Mall Seeks New Cinema Operator
- Providence Business News: Mall Receiver Wants to Replace Providence Place Cinemas 16
- Wikipedia: Providence Place
- Google Search: Providence Place Mall lease
- Google Scholar: Providence Place Mall
- Encyclopedia Britannica: Providence
- Google News: Providence Place Mall
Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
