I just found out about this tournament after getting home from the cruise. I am not sure if it is to late, but I just filled out an online application just in case. I just searched under "King of Vegas" it will aire on Spike TV early in 2006. Here is where I found out about it: http://casinogambling.about.com/od/casinoplayerinformation/a/kingvegas.htm
They have finished auditioning for the show. The last auditions were on 11/16, and the show starts filming on 12/5. It was a pretty hard show to hear about.
Here's a newspaper article that talks more about King of Vegas: http://www.lasvegassun.com/sunbin/stories/do/2005/dec/01/519749613.html
Sadly, I did not make it onto the show. But those that are interested in checking it out, it is filming most days at Bally's for the next 2 weeks.
Another news item Behind the scenes of "King of Vegas": http://www.lasvegassun.com/sunbin/stories/sports/2005/dec/19/519842393.html
Congrat's King We have a new King, long live the King. Waiting to see the show next year on Spike TV. Hope it goes over well and they continue it every year.