Chip
1) This is a token that is used in casinos in the place of cash. There are different denomination of chips and each denomination has a different color.
Here are the generally accepted enominations and their colors.
$1 - White
$2.50 - Pink
$5 - Red
$20 - Yellow
$25 - Green
$100 - Black
$500 - Purple
$1 000 - Orange
$5 000 - Gray
2) A small silicon based electronic device used to control modern slot machines, and the newer electronic table games.