Daigaku is Japanese for "University"
Pachinko Parlors are all over Japan. Most of them are located at or near train stations. Never seen a token for them.
The ones I am familiar with, you would buy a bucket of ball bearings and use them in the pachinko machines. If you were lucky, you got back more ball bearings than you put in. When you finished, you'd take your ball bearings back to the counter and, based on how many bearings you turned in, you would get a cheap prize (like a pack of razor blades), worth a lot less than the money you spent buying the bearings. You see, gambling is illegal in Japan.
Now, if you know how the game is played, you would take your cheap prize down to the street corner, turn into an alley and knock on a door. Someone would answer, you give him your distinctively wrapped pack of razor blades and he would "buy" them from you for a chunk of cash worth a heck of a lot more than a pack of razor blades. You see, in Japan it is not illegal for an individual to buy something from you for a heck of a lot more than its worth.
And that's how they get around the gambling laws in Japan.