Adrock, you definately NEED to tell your boss that the attendance might be low because of Florida Gaming.
If he uses this attendance to judge whether or not it's worth it to hold tournaments, he is going to be disappointed.
With that being said, you should also tell him not to promise a $50 prize, because that would mean that if only 10 people showed up, he wouldn't make any money at all. Suggest that he make the prize a percent of the pot, even if it's a low percent. It will help to guarantee that he makes money.
Also, tell your boss that it's important to allow finals matches to be played on whichever TV the players want to use.
The play'n'trade tournaments don't allow people to bring CRT (tube) tv's, which makes some people mad.
He doesn't need to supply tube tv's, he just needs to allow people who brought them to use them if desired.
Other than that, good luck with your event!