By 1887 the B&L, unable to successfully compete, was leased to the B&M which ultimately would acquire most of the other smaller area railroads. A rematch there on September 10 was won by McMahon. On July 2, 1884, a wrestling match there between Ed Decker and John McMahon resulted in a draw. It opened on with Maggie Mitchell appearing in 'Jane Eyre.' It was used to host a multitude of entertainment from opera and legitimate theatre to movies and sporting events. A seating chart specified seating at 610 on the parquette, 572 in the parquette circle, 614 in the balcony and 36 in the orchestra, totaling 1,832. The Romanesque style Opera House contained a first class entertainment hall and circular balcony on its top two floors and was considered the most ornamental building in the city. As the rivalry with the B&M intensified the B&L built its own bridge across the Merrimack as it built the Opera House giving it direct access to downtown Lawrence. By 1853 it had acquired the Lowell & Lawrence RR which opened in 1848 essentially to keep it out of the hands of the Boston & Maine who had already acquired the Manchester and Lawrence line. The first common carrier railroad chartered in New England, the B&L was chartered in 1830 and began service in 1835. Their depot was in the first floor of the building along with Western Union offices. The Lawrence Opera House was built by the Boston & Lowell Railroad from 1878 to 1880.

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