Chips were pickup in the person by Ed Jordan in Denver, Colorado, in 1942.

Ed Jordan was a nephew and partner for "Smiling Charlie" Stephens who owned a number of clubs in Douglas county, south of Denver. They ordered another similar chip with a pine tree and "Pines" back in 1932-5 which I believe were used at their "Star Ranch in the Pines" club. They sold the place in 1937, so your chips wouldn't have been uses there (unless they kept a secret cut of the club).

1942 falls into a timeframe that is a little murky for the boys. They were running clubs like the Blakeland Night Club and the Cottonwood Club (Stephens took control of the place after having the previous owner's car blown up) around this time. Chips could have been used there.

Their next big thing was the Wolhurst Saddle Club, but that wasn't until 1944 (two years after the pine chips) and they had "WSC" chips made for that one.

A lot of history, but no definite smoking gun.