In your definition, you buy a rack of chips and they are paid for. To me, you have traded them a $5 dollar bill for a $5 dollar chip- but they also paid a manufacturer (chipco, jones, etc) to make that chip, technically they own the chip still, you haven't outright bought it.

Personally, I don't mind people taking chips out of the casino, but NCV's from tournaments are another story.

Doesn't the Wynn chip theirs to prevent them from walking out the door?