The WWE received multi-million-dollar tax credits for hosting WrestleMania 41 in Nevada.
Earlier this week at The Allegiant Stadium in Las Vegas, Nevada, WWE conducted one of its most successful Mania PLEs of all time. With Roman Reigns, Seth Rollins, and CM Punk headlining the night one of the show, and Cody Rhodes and John Cena main-eventing the night two of the PLE.
Now, according to a report by the Nevada Current, the wrestling promotion has been approved for $4.2 million in transferable tax credits by the Nevada Film Office and signed off and approved by the Governor’s Office for Economic Development. WWE became eligible for tax credits because the events are broadcast on television and streaming.
The tax credits partially compensated for the $33.7 million WWE allocated to events held at Allegiant Stadium and T-Mobile Arena last week. As per the reports, the tax credits are in addition to the $5 million grant that was provided as part of its incentives by the Las Vegas Convention and Visitors Authority. World Wrestling Entertainment also announced that it set its all-time gate record for Saturday’s first night and broke that record for Sunday’s show, although no figure or date was shared.
“WWE estimated it would pay $2.6 million in wages to Nevada residents and $17 million to out-of-state talent. Both amounts, as well as $5.3 million in in-state spending on things like hotels and catering, were considered qualified expenses for determining the amount of film tax credits the company is eligible to receive.”
Here Is WWE’s Budget Breakdown Listed
The proposed budget in March listed a breakdown of estimated costs from its overall budget, and here are more details about the above-listed costs.
- $2.4 million for Nevada stagehands,
- $2.7 million for non-resident “below-the-line” labor,
- $17 million for non-resident “above the line” talent,
- $5.3 million in Nevada expenditures,
- $8.6 million in non-Nevada expenditures, and
- $260,000 for Nevada security workers
In other news: Randy Orton’s message to Joe Hendry following their WrestleMania 41 match has now been revealed.