The Agua Caliente hotel-casino opened in 1928 and closed 1935 when gambling was declared illegal in Mexico. The Agua Caliente Horse Racetrack was built/opened in 1929. Betting was allowed to continue at the horse Racetrack, but the track closed (for horses, not greyhounds) in 1992. The people who built and owned the hotel-casino also built and owned the racetrack, where these chips were used at the Jockey Club there.

BRIEF HISTORY OF THE HORSE AND DOG TRACKS AT AGUA CALIENTE (from my web page):

The $2.5 million Agua Caliente racetrack opened in December 1929, one year after the Hotel-Casino opened. To get the extravagant track they envisioned, the Border Barons and their architects visited the major tracks in the US and Europe. It was the site of several industry firsts, including starting gates, safety helmets, photo finishes, the first public address race caller and “pick six” wagering. Both Phar Lap and Seabiscuit ran and won the Agua Caliente Handicap, which for a time was the richest in the world! The race attracted wealthy Southern Californians. But in 1935, Mexican President Lázaro Cárdenas outlawed gambling and the resort was closed. Though the race track continued to operate, gambling was not legalized again until 1938. In 1947 a small dog track oval was inserted within the larger horse race track oval (see picture #327 below). In 1971 the original structure of the racetrack was destroyed in a fire. It was later repaired, [reopened for horse racing, struggled for years, eventually discontinued horse racing May 17, 1992, due to poor attendance and labor problems], and continues operation today (in a rebuilt structure) as a dog track and a successful national and international sports book and casino (mainly slot and other machines, though some illegal live table games -- see pictures 338 and 343 below), Wikipedia. Source. On the map at the top of this page the horse track is location #17. This article enumerates the many "firsts" in racing safety, efficiency and betting that were at Agua Caliente.

Robert
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