I've written in the past about emulation and OpenEmu, a multi-console emulator front end that uses multiple emulation cores to provide a unified experience to macOS (OS X) emulation.

OpenEmu also sports MAME Arcade emulation support but its a bit tucked away.

Step 1: Download OpenEmu Experimental

Go to openemu.org and click the swatch and download OpenEmu Experimental, and install it.

website of OpenEmu

Step 2: Install the MAME core

Once installed launch OpenEmu, open preferences and select cores. Click the install button next to MAME

OpenEmu cores preferences

Step 3: Install games

Games can be nabbed from the usual suspects like emuparadise. . OpenEmu only supports zipped roms so if the rom comes in a .gz or .rar, be sure to decompress its contents and rezip it. Name it the exact name as before (but with the new extension of zip). OpenEmu's mame core is version 0.149.1 so its significantly behind the windows version (from 2013 to be exact). Some sites will list the earliest known support needed for the rom in question.

OpenEmu with NBA Hangtime (arcade)

Notably you'll want access to the dipswitches, hitting F2 repeatedly while the game is launching will take you to most ROM bios screens that enable modes like free play. Note, I had issues resuming games and had to force quit MAME resuming so you may want to hold off resuming games.

OpenEmu with NBA Hangtime (arcade) dipswitches

Optional: NeoGeo Emulation

Emulating NeoGeo games requires one extra step, you'll need to get the NeoGeo rom, the one I used is from emuparadise (just go there and search for Neo Geo Bios) or try a popular search engine. Drag the Neo Geo zip into OpenEmu. You'll see the NeoGeo rom in your game list but ignore it and double click the games as you normally would.

Good luck with OpenEmu