Watch WWE SummerSlam 1988 for Free: How to Stream the Movie Online at 123Movies. . WWE SummerSlam was the first annual SummerSlam professional wrestling pay-per-view event. It was produced by the World Wrestling Federation and took place on August 29, 1988 in Madison Square Garden, located in New York, New York. The PPV was created to help the company compete against rival promotion World Championship Wrestling. It was one of the first four annual pay-per-view events produced by the WWF. The main match of the preliminary bouts was the WWF Intercontinental Championship match between The Ultimate Warrior and the reigning champion The Honky Tonk Man. The Ultimate Warrior won the match in approximately thirty seconds to end the longest Intercontinental Championship reign. The main event was a match pitting The Mega Powers (Hulk Hogan and Randy Savage) against their long-time rivals, The Mega Bucks (Ted DiBiase and André the Giant). Hogan and Savage won the match after Miss Elizabeth distracted the special guest referee by removing her skirt to reveal a bikini bottom.