This is NOT an arcade token. They are SLOT TOKENS. These copper tokens were actually used in 25 cent slot machines at the Atlantis Casino (formerly Playboy). Bus patrons were given these non-redeemable tokens instead of a roll of quarters (quarters which were often not played, but taken back home by senior citizens so they could catch the afternoon bus back down to A.C, for another roll of quarters).

In fact, I've used these same identical Atlantic City Atlantis tokens in the Four Queens machines in Las Vegas. 4Q had very similar copper tokens they also used in their 25 cent slot machines as a promotion.