That is certainly an early Sega/Gremlin cabinet. It could have been any one of about 20 different games, and not even the control panel is going to give you much evidence, since it might have very well been swapped in the conversion (If I have swapped panels amongst Sega/Gremlin cabinets during conversions, than operators have too).
Pick a game that used that cabinet, and go for it. Don't bother trying to make it Arkanoid.
Most of the Sega/Gremlin cabinets were white, though. The only ones in woodgrain cabinets I can find are:
Astro Blaster, Frogger, Moon Cresta, Super Moon Cresta, Pulsar, Space Firebird, and Space Odyssey
So there!...only 7! (and probably a few I missed)

You have a very good point on the control panel. My Crazy Kong cabinet in the pic above has a Frogger panel on it and it wasn't even a real Sega cab. I also drilled a new hole for Player-2 start.
BTW, I'm revising my guess of the control panel. It matches Pulsar's almost perfectly. Even if it wasn't original to the cabinet.
IMHO, Frogger is probably the only one worth restoring out of that list.
That is a sweet Mr Driller plush, where did you get that?!
Where else...eBay. You should see the Taizo Hori (DigDug) one.