It does not say "pachinko," that would look like this: "パチンコ" The script in the center is in the Katakana alphabet. I think it says this: "サンプラザ" or "Sanpuraza," which looks like it means "Sun Plaza." Katakana is usually used to spell out non-Japanese words phonetically to match Japanese sounds. It looks like there are numerous "Sun Plaza" Pachinko parlors in Japan, including ones in Nishio, Tsururoka, Tsu and elsewhere. Very likely this is a Pachinko token from one of those locations.
