I had a handheld version of that! Loved it! Used to take it on car trips all the time back in the 80s/90s. Used a couple of C or D batteries.
Mine had two separate tapes, one for each lane, with cars and boulders as obstacles. Each lane ran at separate speeds, and had items placed at different intervals, so you had to have good timing. An actual steering wheel to manoeuvre the car, and a gear shift to choose your speed (low was the same speed as the right lane; high was faster than both lanes). And a cool red explosion light with great sound effects.
Ah the memories.
Oh, wait, you're talking about an actual full-scale arcade game?