Wow John, thanks for the link, it is very interesting. That does look like a mustard colored chip on the craps table at the 8:30 mark.
The native Yugoslavians were not allowed to gamble in the casino, the patrons were Americans---that could explain the $1 denomination in a European casino.
Also, the original collector was from the New York area, and did travel to Europe quite a few times on gambling junkets.

I will do some more digging and I am going to take another run at the folks at Penthouse with this info to see if it leads anywhere.