ΘΤ (Theta Tau) Fraternity -- home page: http://www.thetatau.org/ . I emailed them to find out if they knew the chip, knew about the logo on the chip, if they wanted chip, etc. Greek alphabet is in the box below. See their current logo below the chip picture. .. ... Very, very likely that the chip was for that fraternity. The fraternity was founded in Minnesota in 1904 and changed its name to the Greek letters Theta Tau in 1911. The chips were ordered, with the same Greek letters, in 1919 by a cigar store in Minnesota.

Robert
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Barbara Stanwyck, playing a compulsive gambler is frantic here at roulette table in "The Lady Gambles" (1949).
http://www.antiquegamblingchips.com/StillsC_FemaleStars.htm