When the last of the Phillips brothers died in 1957, the Palais, the Palais de Danse and Luna Park passed to local entrepreneurs. A brass plaque, still in place on the second level of the Palais, bears a tribute to Leon Phillips from members of the American community of Victoria. The theatre, which had operated primarily as a cinema until the 1950s, became increasingly popular as a live performance venue, hosting top overseas stars such as Johnnie Ray, Bob Hope, the Rolling Stones, Tom Jones and many others. At some point in the 1950s, the name was changed from Palais Pictures to Palais Theatre, reflecting its new role, and the neon sign on the front was changed accordingly.