Byzantium Or Italian States Help ID

@pierre, welcome to CCF. I'm thinking that I agree with echizento that it isn't Byzantine and also with meepzorp over in the FORVM discussion board that it isn't Italian either. I don't remember seeing a cross pattee with crosses in all four quarters and a fifth small cross in the center of the big one.

Here are some thoughts:

1. Where did this "coin" come from--do you have any provenance?
2. It looks gold in color, but does it attract a magnet?
3. I agree that the obv also has at least a partial legend. I think that I can make out the letter E at 5 o'clock and the letter S at about 10 o'clock. If you cropped your pictures more closely to the rim, they could be blown up a little better and then those details might be more evident.
4. I disagree with your description of the rev legend. In my reading, I believe that the first line contains five characters. However, I can't really tell what the first and second letters are with these pics. I do note that the middle word VICIT means he/she/it won or he/she/it conquered so that might indicate a gaming token of some sort, but I'm not sure in the absence of these other details.