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Seminole Hard Rock kicks in $2.5M to make guarantee

 The Seminole Hard Rock Hotel & Casino guaranteed $10 million in prize money for the 2013 Seminole Hard Rock Poker Open, and the resulting 2,384 entries pushed the prize pool to $11.9 mllion.

No such luck this year. Only 1,499 entries (at $5,300, which includes a standard poker house fee), made for a prize pool of about $7.5 million -- meaning the casino was on the hook for the other $2.5 million. (The other option would be to cancel the guarantee, but lose credibility forever.)

Seminole Gaming COO Larry Mullin said Monday that, "obviously we wanted to sell it out, but it's not the end of the world." He also notes that last year they had no firm idea that they'd beat the $10 million mark, and that's just part of the game.

 "We're not in this for one tournament, we're in it for duration," Mullin said. "We think we have room to improve across the board."

 Also, the overall month of tournament was again highly successful -- they made every other guarantee they offered -- and Mullin repeated that the goal is  "about where we put ourselves in the next five to 10 years." He also noted that part of losing $2.5 million to paying an overlay can be recouped by those who were here playing cash games in the poker room, renting hotel rooms and spending at restaurants and night clubs.

 Some players noted there were up to five other tournaments worldwide that tournament competed with.

 "Actually, I think we're the competition," Mullin said. "We're trying to be the biggest in the world." Any movement of the date would be minor, Mullin said.

 He declined to say whether next year's event would also carry a $10 million guarantee, but the plan is for another large poker event in August.

"It could be $8 million, it could be $12 million, it could be $10 million again," he said. "But we will look at what we did and get to work to improve it.

"If you're not getting better, you're getting worse."


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