Looks to be a cigarette case. My 86 year old dad got it from his father after he passed away 35 or so years ago. I really don't know anything about it.
I believe this was my grandfather's. I don't know the age, but I would guess 50-60 years old (my dad is 86, and it was his father's). It has Mother of Pearl inlay. Looks to be in working order. The bottom is stamped PREMO. Licensed under US pat. 1637855.
I believe this is a late 18th century table. The top flips up. With the top folded down you swivel the table to access the hidden compartment. With the swivel top there is no need for extra legs or to pull out an additional leg.