After several days of speculation, World Wrestling Entertainment, Inc. (NYSE: WWE) confirmed Monday evening the status of Wrestlemania 36.
“In coordination with local partners and government officials, WrestleMania and all related events in Tampa Bay will not take place. However, WrestleMania will still stream live on Sunday, April 5 at 7 pm ET on WWE Network and be available on pay-per-view. Only essential personnel will be on the closed set at WWE’s training facility in Orlando, Florida to produce WrestleMania," the company said in a statement.
The company's flagship event was scheduled to take place at the 65,000-seat Raymond James Stadium. Every Wrestlemania for the better part of two decades has taken place inside a football stadium.
Late last week, WWE withdrew its first-quarter and full-year guidance, citing the negative impacts of the coronavirus.
In the second quarter of 2019, WWE reported $268.9 million in net revenue for the quarter, which included WrestleMania. Of that $268.9 million, $48.8 million (18.1%) came from live events. WWE reported $17.1 million in operating income in the second quarter of 2019, and $12.4 million (72.5%) came from live events.
WWE's stock closed Monday's session near its 52-week low at $30.44 per share. The stock has a 52-week high of $100.45 per share.
Photo courtesy of WWE.
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