A lot to consider.

The crests are similar but not the same. Not a big difference but, if the same casino, I would think they would be the same.

The blue chip was sent to a PR chip distributor. The pink chip was sent to a local(?) Chicago distributor.

It is easy to see two different places using it's country's crest as an inlay. Eg, if there was another Hanover collector I could see him also using the House of Hanover crest on his personal chip!

The pink chip is rare. The blue chip is not. If a roulette, there would probably be 200 to 300 of 8 or 9 colors of the pink chip. I believe there might only be 4 or 5 known in any color of the chip. I would think there would be more known if from Casino Espanol.

Arguing the other way. Both chips were ordered in late 1920

I would go all in for Puerto Rico if I could find another chip sent to Slack Manufacturing that was used outside of Illinois. There were other USPC chips sent to Slack. Of course at the moment I don't remember which chips.