The fancy new term for professional wrestling. The WWF uses this term to distinguish itself from the days when wrestling federations didn't want you to know that it was fake. Nowadays, at least in the WWF, they make no attempts at calling it 'real.'

This came from the godlike genius of Vincent Kennedy McMahon. Or, actually, from the legal department of Titan Sports, lucrative plaything of the godlike genius. The WWF wanted to play The Meadowlands, I think, but sporting events are subject to a New Jersey tax or fee of some sort. To save a few (quite a few?) bucks, the WWF declared that professional wrestling was fake (Stop the presses!) - because "sports entertainment" isn't subject to those taxes.