Personally I think that the chance of happening the first one is near to zero. MetaWin team has been working with MWIN for more than a year. They have also made a lot of posts on their social media accounts about this. So, they won't renounce something that they have been cooking carefully for a long time. The $CASINO token might be separated from MWIN.
They can have both $MWIN and $CASINO tokens but I consider the first token ($MWIN) as their brand token while the second token ($CASINO) is too general and it does not represent Metawin brand.
Launching a token and spending decent resources for its design, launch, development, operation, maintenance, security are not easy and I would like to have only $MWIN token, and don't want to have $CASINO token together with $MWIN token. If $CASINO token is launched too, it will only get more resources from Metawin team for $MWIN token, that I dislike, as said.