GWM
Merle Probus
3302 Cane Run Rd
Louisville, KY
2 different orders for chips.
This one says 50¢ on the back 500 issued
Also an orange one $1 - 1,000 issued. 2 different orders in 1947.

My guess is this is a home poker game. The M in the logo is for Merle.
If Jim or someone in Ky will tell us what is at 3302 Cane Run Rd, we'll see if my guess is right. I guess residential. Actually I hope I'm wrong. I want it to be an illegal.