Dade and Kate having a friendly competition with what looks to be an arcade version of Wipeout by Psygnosis. Psygnosis was notorious for publishing the most unusual but creative games of its time like Lemmings, Obitus, and Shadow of the Beast until it was acquired by Sony. The song playing is Cowgirl by Underworld from Dubnobasswithmyheadman. What a horribly awesome film. I loved every cheesy minute of it!

source