In the WWE’s third-quarter earnings report issued Thursday, the company confirmed it will go ahead with the Crown Jewel event next week in Riyadh, Saudi Arabia.
The company included the following statement in their release:
WWE has operated in the Middle East for nearly 20 years and has developed a sizable and dedicated fan base. Considering the heinous crime committed at the Saudi consulate in Istanbul, the Company faced a very difficult decision as it relates to its event scheduled for November 2 in Riyadh. Similar to other U.S.-based companies who plan to continue operations in Saudi Arabia, the Company has decided to uphold its contractual obligations to the General Sports Authority and stage the event. Full year 2018 guidance is predicated on the staging of the Riyadh event as scheduled.
Despite the statement this morning, it's still in doubt whether the Crown Jewel will happen or be moved. It in the footnotes of its earnings press release, the company said it "is continuing to monitor ongoing developments in the region, and there can be no assurances in this regard. If the event were to be canceled, there could be a material adverse impact on 2018 Adjusted OIBDA guidance. While not anticipated, it is possible that a cancellation could also impact expected results beyond 2018."
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