Salsomaggiore Terme was a renowed Thermal station during the last part of 1800 until the First World War. Gambling was diffused during this years all over Italy, sometimes with the local govern approval, sometimes without. Salsomaggiore main Casino The Kursaal opened in 1906, then closed during the First World War. After the Second World War another Casino opened for few months, then the new born Republic govern closed all the Casinos leaving open only the 4 lasted until now (Sanremo, Campione, St. Vincent and Venezia).

I'm not sure about this jeton, in 1901 there's a Grand Hotel Des Thermes, maybe this one was from this place.
In 1901 20 Lire was a big sum for a single chips (around 90 Euros from today), so I think this was 20 Cent (a little less than 1 Euro)
In 1945 20 Lire was between 0,75 and 1,5 present days Euro, in this way it would works too.