SmackDown opens with Booker T coming to the ring for a promo. Booker T enters the ring and talks about how 2011 was a great year for him and thanks the fans. He's interrupted by Cody Rhodes, who proceeds to insult the fans in Indianapolis and several Colts players, who are sitting at ringside. Rhodes then congratulated Booker for beating him on RAW and shakes his hand. He then tells Booker that his fantasy is over, and his in ring career is over. He tells him that he is washed up and is a joke as an announcer and as a person and he should leave WWE.
Goldust comes out in a suit with no makeup or costume. Goldust tells Cody that he knows better than to insult a legend. Cody goes on to insult his brother. Booker defends "Goldy" and said that they should have a rubber match for the title tonight. Cody agreed, but for next week. Booker promises to become the new U.S... before catching himself and saying Intercontinental champion next week. Booker T then left the ring, and Cody attacked Goldust. Cody ran off as Booker returned to the ring to tend to Goldust.
Jinder Mahal defeated Ted Dibiase via submission with the camel clutch.
Teddy Long and Aksana are backstage, but are interrupted by Drew McIntyre, who is now once again a SmackDown star. Long tells McIntyre that he makes too much money and has lost his passion. Long told him that if he doesn't beat Ezekiel Jackson later tonight, he may have to look for a new job.
A promo with Daniel Bryan and AJ is cut short when Big Show interrupted and said that giants don't need saving. Teddy Long comes out and says that the tag team match scheduled for later tonight is off because David Otunga wants a piece of the Big Show. Now Show will face Otunga with Mark Henry in Otunga's corner. Bryan then said that maybe giants do need saving.
Hunico (with a bodyguard) defeated Justin Gabriel with a swanton bomb. After the match, Hunico and his bodyguard double-teamed Gabriel.
The Big Show defeated David Otunga via pinfall. During the match, Daniel Bryan came down to ringside and hit Mark Henry with the World title belt, prompting Henry to chase him to the back. Show proceeded to hit Otunga with the WMD to get the win.
Ezekiel Jackson defeated Drew McIntyre with a roll up while holding the tights.
Backstage McIntyre is complaining to Teddy Long about his loss. Long tells McIntyre that he can't stand losers who complain. McIntyre leaves Long's office upset.
Sheamus is coming out for a promo. He said that he's going to win The Royal Rumble regardless of what number he draws. Hornswoggle comes out. Sheamus asked him who will win the Rumble. Hornswoggle grabbed the mic and goes crazy saying "Hornswoggle" repeatedly while running around. Heath Slater interrupts and insults Hornswoggle. Visit Wrestling Inc. Slater talks about Bushwacker Luke and the Brooklyn Brawler having dreams of winning a Royal Rumble and never doing it. Slater then tells Sheamus that he's the best redhead on SmackDown, not Sheamus. After some more talking, Sheamus ends up throwing Slater over the top rope.
Daniel Bryan and Big Show promo with Teddy Long. Bryan calls himself Big Show's good luck charm. Show says that he doesn't need a good luck charm and is getting tired of Bryan coming out to help him. Long announces Daniel Bryan vs. The Big Show for the title for next week on Smackdown which makes Show happy. Bryan states that even if he loses next week, his title reign was longer than Big Show's 45 second reign.
Randy Orton vs. Wade Barrett in a falls count anywhere match is next. Orton threw Barrett in the crowd and the referee gets knocked out. they fight to the backstage area and brawl like they did last week. Backstage an elevator door opens and they fight in an elevator where there's an elevator cam set up. Later, Barrett threw Orton off a set of stairs. The show ends with Orton in extreme pain after being pushed down the stairs. The crowd is not happy as they were not sure if the match was over or not.