I can be wrong, but Monaco GP has no processor, the pcb (s) (there is 4 or 5 for the game) contains only logical gate and rom. As pong which was purely analogique, i think. It is not possible to really emulate these game. But only simulate!
I didn't look in mame for these game, but how did they manage that?
I own an original Monaco gp cab since few weeks (still have to restore it) , i would be curious to see Monaco GP on mame.