I will submit a change request to the ChipGuide, but here's my analysis ... and some speculation. If anyone has information otherwise, or a comment, please join in --

On the ChipGuide, there's a California listing for "Club Monoco", based on the spelling on the index order card. It is categorized as a "Card Room" See:
https://chipguide.themogh.org/cg_chip2.php?id=CAOPOP&v=1298406099

I think the name is slightly misspelled, and should be "Club Monaco" instead. My conclusion based on (1) the intro paragraph in the club listing on ChipGuide, where it's called "Club Monaco" in the 2nd paragraph, and (2) a graphic folder that holds a picture inside that's printed as "Club Monaco, Ocean Park, California" -- see below.

Their fun chips include a set of 6500 large crown chips in 5 colors (that's 65 boxes!) but no denominations. Only the "O P" and elephant graphic as shown on a scan of my chip below. Of course, the "O P" stands for Ocean Park, and in the 1944 to 1950 period it was open, it was located in an amusement park pier and beach area (including the Lick Pier) that was just south of St. Monica. An area that's now Venice, CA that's part of City of Los Angeles.

There's also a series of 11,000 chips in 5 colors / no denominations (110 boxes!) marked simply "J". See the ChipGuide for examples, and also the index order card.

Just speculation here -- rather than a "Card Room", might these chips have been used in the carnival games occurring at Ocean Park? The only licensed card rooms in LA County that I'm aware of were in Gardena. Of course, there were illegal operations like the off-shore boats, like the SS Rex and others. The water taxis to those boats docked in St. Monica (just north) and Long Beach (south). I'm considering that the chips may have been used either as money-equivalents in the carnival games? It was in this area that Bill Harrah's father, and then Bill Harrah himself, ran a carnival game concession on the Venice pier (or perhaps the St. Monica pier) - either bingo, or something called the "Circle Game" or something similar. Though Bill Harrah has already moved to Reno before Club Monaco's opening date in 1940.

There were ballrooms and Big Bands of the era that played in Ocean Park, including Lawrence Welk ("And a One, And a Two") and others. So they also could have been entrance and drink and even buy-a-dance type money equivalents.

Again, the above is speculation, unless researchers know more. (Paging Ed Hertel!)

Well, that my post for the day. Any comments?