It looks to me like the chip was mounted to something, hence the "tape-like" residue (probably glue residue from double-sided foan tape. The chip was on display and suffered from sun and/or exposure to a bright light source. The word "Harrah's" is not read, but a dark brownish color, a mix of the blue ink and the now brown paper inlay.

Again, my opinion, but it certainly explains the damage to both sides.

Sorry,

Jim