This is Game Over, a title for the Spectrum, first released in 1987. A game released amidst controversy. See, while later editions of the game would feature slightly edited variations of the box art, the original featured one of video gaming's first wardrobe malfunctions.
You could see half a nipple. And it caused an outrage. With "games are for kids" still the dominant public line on the medium, many vendors in the UK threatened to stop stocking magazines featuring an advertisement for the game, which resulted in some rather crude edit jobs, some covering the nipple with publisher logos, others going to the trouble of painting extra armour over the top.
Those wondering about the origins of the piece, like many games of the time it wasn't actually an original work; it had first appeared on the cover of Heavy Metal magazine in 1984, and you can see it below.