No clue to origin, although it looks to be a ceramic tournament chip made by Chipco International -- who made chips for both casinos and the home market.
The CI markings usually only appeared on casino chips when required by regulations, and chips were notched/cancelled once obsolete only on casino chips when required by regulations.
So it ~could~ be from a legitimate gambling operation, although cancelling obsolete no-value chips seems pointless and makes little sense to me.