It should be perfectly OK for up to 5/5 for 10 people, or even up to 5/10 for 8-9 people.
But 9 racks is an odd number. Which kind of case are you going to fit them in?
With 1,000 chips you can have either one case of 1,000 or, even better, two case of 500 each.
In which case I would go for 300x$20 and 140x$100