"o.k. the numbers are wrong...but the theory is still the same, so is the point....the LE's improve the bottom line for the casino, with a relatively low risk (my opinion, anyway! )"

YES - NO
It is very complicated. A casino owner can not sell chips one day and put the money in their pockets the next day. The cash becomes part of the required bankroll, The chips are carried as a debt. They are an IOU. At some point when "there is a reasonable expectation" that the chips will not be coming back in, the casino can write the IOU off. The casino bankroll is a VERY complicated formula. Depending on other obligations in the formula, the casino owner might or might not be able to take the cash at this time.

Is it cash flow, YES.
Is it profit, YES, but when?
Is it a lot of bookwork, YES.
If a casino makes 2,000 LE chips and only gets rid of 1.000 then there is an inventory tax on what is left, every Jan 1.
If it was up to cage managers there would never be a LE chip.