Looks like it's got a splurged cap next to the CPU/VRMs and two others bulging (I'm guessing from the brown sleeves and Y-shaped vents that they're Nippon Chemi-Con KZG which were always finicky even when new, NCC discontinued them ages ago as it was very off-brand for them to produce a bad range of caps; note how the Rubycons on the board are still going strong).
KZGs (and related KZJs) don't like being even remotely warm despite their 105°C rating, so of course they were used on almost every motherboard until the manufacturers came across a company called CapXon which could do the exact same thing but cheaper.

Is it an actual PC-based arcade machine or a MAME cabinet? If it's the latter you're better off just swapping the guts for a cheap PC from this side of 2010.