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answer. 
Here's information on the BMR company (also known as BDR):
https://penny-arcade.info/-the-bdr-bmr-collection
This purported description does not show the "penny arcade machine" but it mentions a "brake system" which your machine seems to have:
https://penny-arcade.info/-the-bdr-bmr-collection
I would guess that if wholly assembled, your machine would feature a "race" of some sort, for which applying "brakes" might be necessary to stop the
racing object (on a certain point or value number) to win a prize. As an Arcade Machine that "did something," it might have been exempt from prohibitions applied to "slot machines" (that just ate your money) at least for some years.
Lastly - an EBay listing for a BMR machine showing a cone mechanism somewhat like the one you show. Again, my guess is that it would rotate,
maybe at variable speeds, and your job would be to apply the "brakes" so that the "car" or whatever would stop right on a payline and you could
collect some coins.
PS: I think the red pickup truck with its brakes is in better condition.
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