The Old Malco Theatre in Hot Springs is reportedly haunted by several entities, including a "glowing woman's spirit" and the ghost of a former manager, with paranormal activity consisting of mysterious footsteps, objects moving on their own, disembodied screams, and shadowy figures. The haunting is linked to a historical disappearance and a history of illicit activities during the Prohibition era, which are said to have contributed to the building's notoriety as a haunted location. A glowing woman has been seen in the basement, and a woman's spirit is reported to loom in the building. Some believe a former theater manager, who is described as possessive of the space, haunts the building. A retractable theater seat has been seen folding into its upright position, and other objects are said to move independently. Visitors have reported hearing disembodied screams and footsteps on the stage. A shadow passing in front of an exit sign has been witnessed, along with a shadowy figure wearing a top hat. Stories suggest a woman disappeared during a magic show in the 1880s at the site before the Malco was built, which may be connected to the haunting. The Malco was once involved in the mobster rule and illegal dealings during the Prohibition era, adding to its mysterious and potentially dark past. The theater's haunting was featured on the Travel Channel's Portals to Hell, where investigators documented several paranormal occurrences.