I think it reads as "Las Vegas Knights", as shown in the ChipGuide listing.

One possibility: the name might refer to a company that did Las Vegas Night-themed events for private parties or charity events.

The different colors could be changed to represent different "fantasy" denominations, and switched from $1-5-25-100's to higher denominations, as the event required.
The quantities of chips found sound like it could work at a several-table BJ event.

As to the $1.oo denominated chip on the ChipGuide, it could have been used to buy drinks or some other purpose?

My vote would be for non-casino use somewhere in the Northeast, but just my speculation.