World Wrestling Entertainment, Inc. (NYSE:WWE) CEO Nick Khan on Thursday expressed optimism regarding the potential sale of the company, and for legalized betting on WWE matches, despite opposition from gaming and legal sports book companies.
What Happened: Khan told CNBC that the pro-wrestling promotion has been engaged in private conversations on betting. He declined to discuss specifics, but pointed out that betting on predetermined outcomes, such as the Oscars or Grammys, is already legal in certain states.
Khan also provided an update on the Stamford, Connecticut-based company’s ongoing auction. There has been a “robust response” from potential bidders, he says, without naming specific parties.
WWE’s global fan base, which spans over 180 countries, is a key factor in the company’s appeal to potential buyers, Khan says.
He said the company hopes to sell for $18 billion.
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Khan also could not say whether WWE founder Vince McMahon, who recently returned to the company as Executive Chairman, would be included or involved in any future deals.
WWE Price Action: Shares of WWE are trading nearly 1% higher after hours to $91.40, according to data from Benzinga Pro.
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