SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 12b-25

                                                  Commission File Number 0-24363
                                                          CUSIP Number 460615107

                           NOTIFICATION OF LATE FILING


(Check One):   [_] Form 10-K and Form 10-KSB   [_] Form 11-K    [_] Form 20-F
               [X] Form 10-Q and Form 10-QSB   [_] Form N-SAR

          For Period Ended:      March 31, 2004
                           -------------------------------

     [_]  Transition Report on Form 10-K
     [_]  Transition Report on Form 20-F
     [_]  Transition Report on Form 11-K
     [_]  Transition Report on Form 10-Q
     [_]  Transition Report on Form N-SAR

          For the Transition Period Ended:______________________________________

Read attached instruction sheet before preparing form. Please print or type.

Nothing  in this  form  shall be  construed  to imply  that the  Commission  has
verified any information contained herein.

If the notification  relates to a portion of the filing checked above,  identify
the item(s) to which the notification relates: ________________________


                                     PART I
                             REGISTRANT INFORMATION


Full name of registrant   Interplay Entertainment Corp.
                        --------------------------------------------------------
Former name if applicable

________________________________________________________________________________

Address of principal executive office (Street and number)

16815 Von Karman Avenue
________________________________________________________________________________

City, state and zip code     Irvine, California 92606
                         -------------------------------------------------------


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                                    PART II
                             RULE 12b-25(b) AND (c)

If the subject report could not be filed without  unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate.)

     |    (a)  The reasons  described in  reasonable  detail in Part III of this
     |         form  could  not be  eliminated  without  unreasonable  effort or
     |         expense;
     |
     |    (b)  The subject annual report,  semi-annual report, transition report
     |         on Form 10-K,  20-F,  11-K or Form N-SAR, or portion thereof will
[X]  |         be filed  on or  before  the  15th  calendar  day  following  the
     |         prescribed  due  date;  or  the  subject   quarterly   report  or
     |         transition  report on Form 10-Q, or portion thereof will be filed
     |         on or before the fifth  calendar day following the prescribed due
     |         date; and
     |
     |    (c)  The  accountant's  statement  or other  exhibit  required by Rule
     |         12b-25(c) has been attached if applicable.


                                    PART III
                                    NARRATIVE

State below in reasonable  detail why the Form 10-K,  20-F, 11-K, 10-Q, N-SAR or
the transition  report portion  thereof could not be filed within the prescribed
time period. (Attach extra sheets if needed.)

         The Registrant's  Form 10-Q for the period ended  March 31, 2004, could
not be filed within the prescribed time period because  certain  information and
data relating to and necessary for the accurate  completion of the  Registrant's
financial  statements  and  management's  discussion  and  analysis of financial
condition and results of operation  could not be obtained by  registrant  within
such time period without unreasonable effort or expense.


                                    PART IV
                               OTHER INFORMATION

(1)  Name  and  telephone  number  of  person  to  contact  in  regard  to  this
     notification

                    Herve Caen                       (949)       553-6655
     ---------------------------------------------------------------------------
                       (Name)                     (Area Code) (Telephone Number)

(2)  Have all other periodic  reports  required under Section 13 or 15(d) of the
     Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
     of 1940 during the preceding 12 months or for such shorter  period that the
     registrant was required to file such report(s) been filed? If the answer is
     no, identify report(s).
                                                                 [X] Yes  [_] No


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(3)  Is it anticipated that any significant change in results of operations from
     the corresponding  period for the last fiscal year will be reflected by the
     earnings  statements  to be  included  in the  subject  report  or  portion
     thereof?
                                                                 [X] Yes  [_] No

If so: attach an explanation of the  anticipated  change,  both  narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.


                          Interplay Entertainment Corp.
- --------------------------------------------------------------------------------
                  (Name of Registrant as Specified in Charter)

Has  caused  this  notification  to be signed on its  behalf by the  undersigned
thereunto duly authorized.


Date  May 17, 2004            By   /s/ Herve Caen
    -------------------            ---------------------------------------------
                                   Name:   Herve Caen
                                   Title:  Chief Executive Officer and Interim
                                   Chief Financial Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly  authorized  representative.  The name and title of the person
signing  the form  shall  be typed or  printed  beneath  the  signature.  If the
statement is signed on behalf of the registrant by an authorized  representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.


                                    ATTENTION

Intentional  misstatements  or omissions  of fact  constitute  Federal  Criminal
Violations (see 18 U.S.C. 1001).


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Attachment:  EXPLANATION OF ITEM 3 OF PART IV

         Registrant's  Form 10-Q for the  corresponding  period  ended March 31,
2003 in the last fiscal year,  reported the $15 million sale of the Hunter:  The
Reckoning license,  payable in installments.  Registrant does not anticipate the
reporting of a sale of a license of similar  materiality in connection  with the
Form 10-Q for the corresponding period ended March 31, 2004.


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