TKO president Mark Shapiro told investors that the risk to WWE's Middle East events is "extremely minimal," days before Crown Jewel on Saturday, November 7. He spoke on TKO's third quarter 2026 earnings call on November 4, according to the call transcript.
Asked about the region by Goldman Sachs analyst Stephen Laszczyk, Shapiro said: "The risk is extremely minimal. I think we've endured the tough climb thus far this year, right? We've had no events interrupted." He said Crown Jewel "should be a big one for us" and described the company's Middle East events as "all systems go."
JPMorgan analyst David Karnovsky asked about WrestleMania 43 in Saudi Arabia. Shapiro said: "We have already been paid half upfront and received the funds from our partners in Saudi." He said that if the event ever had to move, TKO would still receive the other half, adding: "So come rain or shine, we're getting the other half payment." He also said there is "a long list of cities, primarily in the U.S.," that WrestleMania could move to.
On soft ticket sales, Shapiro said the market matters: "You're not going to do in Minneapolis, Minnesota in two days what you did in New York, New Jersey. It's just a different DMA." A DMA, short for designated market area, is the television market a venue draws from. He added that decisions are not about maximizing profitability alone.
Shapiro also said he is "pretty bullish about some conversations that Nick Khan is having about bringing WWE to Tokyo next year." He did not name an event for a Tokyo show.
Shapiro did not give a dollar figure for the WrestleMania 43 payment on the call. As of the call, his position was that Crown Jewel and WWE's other Middle East events are proceeding.
