This type of event draws the attention of many players, it can be seen as free money, but if what it brings is much more traffic, if there are players who take advantage of the opportunities, I am sure that this strategy makes them join more, in the end It is not money given away, who invests in advertising in the forum, I have seen how well they do on their platforms.
Small promotions keep players on the lookout, and this is already a profit for the casinos, having a constantly growing community is an advantage over others.
The idea is that you give free money now and get their money later. By logic if there are people who are not gambling in chips.gg but see this and come in and try to get this free money, they may or may not get it, but in the end if they stay, even if some of them stays, that means they could actually make a profit with this from the people who keep gambling after this is over.
Most of the competitions, marketing, promotions, bonuses and such all have the same goal, spend a bit money right now on them and get more money back later from people, otherwise it would be like donation and this place is not a charity so that is why they always aim at making a profit. However there is competitors to think about as well, so even if you lose a bit of money, you do it because other places do it as well so you need to offer something as well to keep your gamblers too.