Depends on what kind of games. If it's simply online games, then yeah, they definitely could. However, this computer does not have a CD drive, so online games would be the extent of games to be played.
Anything you can install from the Chrome Web Store will be playable on this laptop. There's a lot to choose from that I'm sure would keep 8-12 year olds entertained. https://chrome.google.com/webstore/category/app/3-games