Interesting, indeed. Had never hear of this before. I did a bit more digging and discovered that Ping-Pong® is actually a brand name in the US and, according to the following link, is not actually a sport.
http://www.pingpong.com/
Ping-Pong was first trademarked in the US by Parker Brothers as I mentioned previously. The brand name is now owned by Escalade Sports. From what I understand, a sport event promotion company, Matchroom Sport, won a legal battle in 2012 to use the Ping-Pong (brand) name for their World Championship of Ping Pong events. For this table tennis variation, they use sandpaper rackets (no longer legal for ITTF events) and modified ITTF rules -- older table tennis rules?
Check out the 2nd half of this article for more background in this:
http://www.allabouttabletennis.com/table-tennis-question-about-sandpaper-rackets.html
Rackelton! There was a forerunner to Rackelton that aired on American TV on CBS in the late 70s or early 80s. I believe that it was billed as something like "Battle of the Racket Sports". It included a 5th sport that Rackelton does not -- racquetball (not racketball). It featured top players from 5 sports. I believe that these were some of the participants for the original event:
Bjorn Borg (tennis), Sharif Khan (squash), Morten Frost (badminton), Marty Hogan (racquetball). Each participant played all events except for their primary sport.
Note that the official
Rackelton web site includes a post that I made on a badminton web site back in 2001:
http://www.racketlon.com/newborgrack.html