UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       Pursuant to Section 13 OR 15(d) of
                       The Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) September 1, 2004

                           ACCLAIM ENTERTAINMENT, INC.
             (Exact name of registrant as specified in its charter)

         Delaware                       0-16986                  38-2698904
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(State or other jurisdiction          (Commission              (IRS Employer
      of incorporation)               File Number)           Identification No.)

               One Acclaim Plaza
              Glen Cove, New York                                   11542
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    (Address of principal executive offices)                      (Zip Code)

         Registrant's telephone number, including area code 516-656-5000

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         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
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      Exchange Act (17 CFR 240.13e-4(c))



Item 1.03 Bankruptcy or Receivership.

Acclaim Entertainment, Inc. (the "Company") announced today that negotiations
with a proposed lender to replace the Company's former primary lender, GMAC
Commercial Finance LLC ("GMAC") had terminated, and that the Company's credit
facility with GMAC expired on August 20, 2004 and was not extended.

Today, the Company filed a petition with the United States Bankruptcy Court in
the Eastern District of New York for protection under Chapter 7 of the federal
Bankruptcy Code (Chapter 7 Case No. 04-85595). As of today, Allan B. Mendelsohn
has been appointed the interim trustee and in control of all the assets and
business of the Company.



                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                      ACCLAIM ENTERTAINMENT INC.
                                                                    (Registrant)

Date September 1, 2004
     -----------------
                                                      /s/ Gerard F. Agoglia
                                                      --------------------------
                                                                    (Signature)*
                                                      Gerard F. Agoglia
                                                      Executive Vice President
                                                      and Chief Financial
                                                      Officer

*Print name and title of the signing officer under his signature.