Is it a good gaming laptop?

Lenovo Ideapad Z500:
Processor: Intel Core i5 3230M @ 2.60GHz
RAM: 6 GB DDR3
GPU: NVIDIA GeForce GT 740M 2GB DDR3
WINDOWS 8 64-bit

Can it run GTA 4 and GTA 5?
GTA 4 on 60+ fps?

It's very good and will handle most games.

It is a dual-core CPU and I would like to see a quad-core processor for gaming. But that will work just fine for now. The lack of a quad-core may be limiting for future gaming.

Yes its good

Yes, of-course its a good gaming laptop and you can play both GTA 4 and 5. I do have a HP laptop with 6 GB RAM, NVIDIA GeForce GT 740M 2GB DDR3 GPU and windows 8.1 64 bit and it is running both game prefectly.