The event took place on January 24, 1988 from the Nassau Veterans Memorial Coliseum in Uniondale, New York in direct competition with the WWF's Royal Rumble television special.

[2][3] The event comprised four professional wrestling matches that involved wrestlers from pre-existing rivalries, plots and storylines that were played out on Worldwide, Pro and World Championship Wrestling–Jim Crockett Promotions (JCP)'s television programs.

By December 26, Big Bubba Rogers, Arn Anderson, Tully Blanchard, The Barbarian and The Warlord, Lex Luger, Road Warrior Animal, Steve Williams, Mighty Wilbur and Ivan Koloff had qualified for the Bunkhouse Stampede final.

[5] On January 24 episode of World Championship Wrestling, Flair was scheduled to defend the title against Hawk at Bunkhouse Stampede.

Before the event aired live on PPV, Sting and Jimmy Garvin defeated The Sheepherders (Butch Miller and Luke Williams) by disqualification in a non-televised tag team match.

In prior weeks of TV it was mentioned that The Rock and Roll Express would face The Sheepherders at this event, but no explanation was ever given as to why this did not occur, although behind the scenes, both Morton and Gibson had left the promotion the day before.

[2] When the live broadcast commenced, Nikita Koloff defended the NWA World Television Championship against Bobby Eaton in the opening match.

[2][3] In the final match on the undercard Ric Flair defended the NWA World Heavyweight Championship against Road Warrior Hawk.

The participants were Tully Blanchard, Arn Anderson, The Barbarian, The Warlord, Dusty Rhodes, Ivan Koloff, Lex Luger and Road Warrior Animal.

Both men climbed the over the top of the cage, where Rhodes hit Barbarian with two Bionic Elbows to win the Bunkhouse Stampede for the third consecutive time.

[6] Luger became the #1 contender for Horsemen's leader Ric Flair's NWA World Heavyweight Championship, unsuccessfully challenging him for the title at The Great American Bash and Starrcade.

[8][9] Larry Zbyszko would hold the NWA Western States Heritage Championship for all of 1988, eventually being vacated when Zybszko went to the AWA after Ted Turner's buyout of JCP.

Baby Doll would be fired after her then-husband Sam Houston went to the WWF, which was considered a conflict of interest, and ending a short-lived feud with her former charge, Dusty Rhodes, and Zbyszko would join forces with Gary Hart and Al Perez.

The Warlord and Barbarian would team up to form The Powers of Pain with their manager, Paul Jones, and began feuding with the Road Warriors.

Nikita Koloff would go on to lose the NWA World TV Title to Mike Rotunda of the Varsity Club and would hold the title for over a year, then Koloff began to gradually step away from wrestling when his then-wife Mandy fell ill. Jimmy Garvin would team up with his kayfabe brother Ron Garvin in a feud with Kevin Sullivan and the Varsity Club over Jimmy's valet, Precious, while The Sheepherders would fall into the mid-card, finally making it to the final match for the vacant NWA United States Tag Team Championship in November, 1988 before leaving for the WWF and becoming The Bushwhackers.