In what can only be described as a high-flying, bodyslamming, suplex of an anniversary bash, AEW celebrated its fifth birthday with the annual Double or Nothing pay-per-view in Las Vegas, Nevada. With a triple main event that could make even the most stoic wrestling fan shed a tear of joy, the night saw Mercedes Mone topple Willow Nightingale for the AEW TBS Championship, Swerve Strickland defend his AEW World Championship against Christian Cage, and the third-ever Anarchy in the Arena match that left Team AEW and The Elite looking like they went through a meat grinder. But, as the smoke cleared and the cheers faded, Dave Meltzer of the Wrestling Observer Newsletter took to his calculator to break down the financial slam-fest.
Meltzer, who appears to have a hotline to the wrestling gods themselves, reported that AEW claimed 7,500 paid fans were in attendance, with the building bursting at the seams with over 9,000 people at bell-time. But hold onto your folding chairs, folks—Pollstar swooped in with a chair shot of its own, stating there were actually 9,099 paid fans, generating a gate of $582,204. This little contradiction left Meltzer scratching his head, as his initial gate figure was just under $800,000. According to Pollstar’s figures, the average ticket price was $63.99, a number so low it must have been sneaking under the ring all night because actual ticket prices were way higher.
Let’s not forget the warm-up match—May 25’s “AEW Collision.” This event reportedly drew $112,298 from 3,944 fans, averaging around $28.47 per ticket. Meltzer thinks this is more dubious than a heel turn in the middle of a babyface promo since AEW tickets are usually priced higher than that, even if you buy them from the scalper in the parking lot. He suggests that maybe only 2,500 fans were genuinely paying customers, with the rest being papered to make it look like a full house, despite Pollstar’s insistence on using paid attendance figures.
Now, here’s where things get even juicier than a post-match promo. AEW’s Mike Mansury filed for tax credits in Nevada, listing all the expenses for both the May 25 show and the Double or Nothing pay-per-view. The standout for Meltzer? AEW’s wage bill—a whopping $2 million in salaries over the Double or Nothing weekend. Putting it all in perspective, Meltzer guesstimated that AEW’s annual salary payout could be around $104 million. If true, AEW’s upcoming media rights deal would need to be at least $125 million a year just to break even. No pressure, Tony Khan!
Despite the financial gymnastics, Meltzer believes AEW barely managed to come out ahead. The weekend’s total expenses were a staggering $3,868,200, including $2 million on salaries, $400,000 on operations and tech support, $250,000 for hotel expenses, and $150,000 each for broadcast production and talent airfare. And let’s not forget the generous 10% tax on their expenses, because nothing says “Welcome to Vegas” like a hefty tax bill.
But here’s the kicker: AEW managed to pull in $3 million from the pay-per-view, $500,000 from TNT for “AEW Collision,” $150,000 in merch sales, and the live gate. In the end, AEW did what many tourists only dream of—they left Las Vegas with more money than they arrived with. Viva Las AEW!