Before Euro the portuguese currency was ESCUDOS.There were not 250 escudos chips. ...,50, 100, 200, 500, 1000 etc.
The only similar to those numbers ( I think you collect $2,5 and so 250 )were 25 escudos slot machines (several casinos).
Now some casinos have chips with the value 2,5 euros and 25 euros(Madeira 2,5 french roulette chips- 6 different colours,Madeira 25 plaques- two different colours, Madeira black jack 2,5 and 25 ,Espinho 2,5 black jack, Figueira da Foz black jack 2,5 and 25.
The name you have tried to writte is MADRID- the spanish capital.