LEs were not blown out of proportion by George Maloof. Interesting that you mention the Fiesta and the Palms. With the EXCEPTION of a chip here and there prior to 1995 (maybe it was 1994), the chip that started all this BS with the LEs was the New Years chip from the Four Queens. There were only 500 made, and they went like mad. The price went up to 60 or 70 dollars back then. Then came the Super Bowl one, then, well, you know what came next. Pretty soon tons of other casinos caught on and saw the "easy money" to be made on LE's and you see how it is now. Back at the Four Queens, the whole thing started with one chip. It was the brainchild of none other than.... You guessed it, Gene Trimble. Where did Gene go to work after the Four Queens? The Fiesta! And where did Gene go after the Fiesta? The Palms!
I know that Gene is a nice guy, and gets a lot of credit in this hobby for his contributions to it, but Gene is also the one who has singlehandedly started this mess, some 10 years ago. I know. I worked with him for about the first 7 years or so, both at the Four Queens and then at the Fiesta.
In the interest of keeping myself off the sh** list, (too late, maybe?) I need to stop here.