EXHIBIT 23.1
 
                        CONSENT OF INDEPENDENT AUDITORS
 
The Board of Directors of Acclaim Entertainment, Inc.:
 
We consent to the use in this Registration Statement of Acclaim Entertainment,
Inc. of our report dated December 16, 1996, included herein, and to the
reference to our firm under the heading 'Experts' in the Prospectus.
 
Our report dated December 16, 1996 contains an explanatory paragraph that states
that the Company's significant loss from operations in fiscal 1996, the
Company's violation of certain loan covenants and various uncertainties,
including the resolution of litigation, raise substantial doubt about its
ability to continue as a going concern. The consolidated financial statements do
not include any adjustments that might result from the outcome of that
uncertainty. The report also indicates that the auditors were unable to review
the selected quarterly data in accordance with professional standards.
 
                                          KPMG PEAT MARWICK LLP
 
New York, New York
August 14, 1997