IMO, it looks non-arcade related. Looks like a board from the early 90s, and if you look at SW1 it has what are probably selectable baud rates (maybe serial, maybe modem). Probably generates video (has CHAR and COLOR as well as 50/60 silkscreened). Maybe some sort of gambling/lottery machine, bowling scoring machine, etc.
If you dump the ROMs and look through them w/ a hex editor, you may find some copyright info, or other relevant info.
DogP