have a more modern version at my place - based on original star trek.
history is that after WW2, USA said no Japanese were allowed to gamble, so they made "games of skill". these were pachinko machines (like these) and pachillo machines (like poker machines but you press buttons to stop the reels). Both are still moslty just gambling machines, but veiled in use of "skill".
This one looks like it is in very poor repair. The aim is you flick the balls up to the top of the "playfield", the pins divert the ball, and try to get them in the target holes at the bottom. In my one, you then get "Video Mode", this one probably gives bells and lights. The novelty would wear off quickly, but if you want to complement a games room and have a do-up project, could be fun (especially if you get it for under $100).
this is a pic of mine. They come in a billion different varieties/themes