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WWE® to Return to Jeddah for WWE King and Queen of the Ring at the Jeddah Superdome on Saturday, May 27
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
The General Entertainment Authority, in collaboration with WWE, has announced the WWE King and Queen Of The Ring event scheduled for May 27, 2023, at the Jeddah Superdome, the largest pillarless superdome globally. This will be the first King Of The Ring Premium Live Event since 2015 and the first coronation of a Queen since the inaugural Queen’s Crown Tournament at WWE Crown Jewel in 2021. Additional details will be revealed in the coming weeks, highlighting WWE's continuous expansion and engagement in the Saudi entertainment market.
Positive
Collaboration with General Entertainment Authority enhances WWE's presence in Saudi Arabia.
First King Of The Ring event since 2015 signifies a renewed focus on traditional wrestling events.
Potential for increased revenue and engagement through live events in a growing market.
Negative
Dependency on international markets poses potential risks due to political and economic uncertainties.
JEDDAH, SAUDI ARABIA & STAMFORD, Conn.--(BUSINESS WIRE)--
The General Entertainment Authority, in cooperation with WWE, has announced that WWE King and Queen Of The Ring will be held at the Jeddah Superdome, the world’s largest pillarless Superdome, on Saturday, May 27, 2023.
WWE® TO RETURN TO JEDDAH FOR WWE KING AND QUEEN OF THE RING AT THE JEDDAH SUPERDOME ON SATURDAY, MAY 27 (Photo: Business Wire)
WWE King and Queen Of The Ring is happening in Jeddah, alongside a host of additional exciting events happening in Jeddah throughout the year.
This marks the first King Of The Ring Premium Live Event to be held since 2015 and the first crowning of a Queen since the inaugural Queen’s Crown Tournament which took place at WWE Crown Jewel in Riyadh in 2021.
More details on WWE King and Queen Of The Ring will be announced in the coming weeks.
About the General Entertainment Authority
The General Entertainment Authority (GEA) was established in line with Saudi Vision 2030 to carry out the tasks of organizing and developing the entertainment sector in the Kingdom, and providing options and entertainment opportunities for all segments of society in all regions of the Kingdom. The GEA aims to enrich life, bring joy and motivate the private sector to play its role in building and developing entertainment activities. The GEA supports the economy of the Kingdom by contributing to the diversification of its sources, raising the GDP, in addition to supporting small and medium enterprises and raising the proportion of foreign direct investment in the entertainment sector.
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 30 languages through world-class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive property of WWE and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners.
Forward-Looking Statements: This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to: entering, maintaining and renewing major distribution and event agreements; WWE Network (including the risk that we are unable to attract, retain and renew subscribers); our need to continue to develop creative and entertaining programs and events; the possibility of a decline in the popularity of our brand of sports entertainment; the continued importance of key performers and the services of Vincent K. McMahon; possible adverse changes in the regulatory atmosphere and related private sector initiatives; the highly competitive, rapidly changing and increasingly fragmented nature of the markets in which we operate and greater financial resources or marketplace presence of many of our competitors; uncertainties associated with international markets including possible disruptions and reputational risks; our difficulty or inability to promote and conduct our live events and/or other businesses if we do not comply with applicable regulations; our dependence on our intellectual property rights, our need to protect those rights, and the risks of our infringement of others’ intellectual property rights; the complexity of our rights agreements across distribution mechanisms and geographical areas; potential substantial liability in the event of accidents or injuries occurring during our physically demanding events including, without limitation, claims alleging traumatic brain injury; large public events as well as travel to and from such events; our feature film business; our expansion into new or complementary businesses and/or strategic investments; our computer systems and online operations; privacy norms and regulations; a possible decline in general economic conditions and disruption in financial markets; our accounts receivable; our indebtedness including our convertible notes; litigation; our potential failure to meet market expectations for our financial performance, which could adversely affect our stock; Vincent K. McMahon exercises control over our affairs, and his interests may conflict with the holders of our Class A common stock; a substantial number of shares are eligible for sale by the McMahons and the sale, or the perception of possible sales, of those shares could lower our stock price; and the volatility of our Class A common stock. In addition, our dividend is dependent on a number of factors, including, among other things, our liquidity and historical and projected cash flow, strategic plan (including alternative uses of capital), our financial results and condition, contractual and legal restrictions on the payment of dividends (including under our revolving credit facility), general economic and competitive conditions and such other factors as our Board of Directors may consider relevant. Forward-looking statements made by the Company speak only as of the date made and are subject to change without any obligation on the part of the Company to update or revise them. Undue reliance should not be placed on these statements. For more information about risks and uncertainties associated with the Company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q.
