Death Angel (1998)

From the publishers website:

Death Angel. An Oscar winning game if there ever was one. Basically, you and the other players are stuck in an abandoned farming community, hunted by a psychotic 21 year old with 10" metal blades bolted through her fingers. The game play is very gory, the odds are in Angel's favor, and you must often fight with weapons no better than a flashlight. (Or a rake if you get really lucky..) However, that's the fun of the game! You see, the point of Death Angel isn't really to "win", but to survive. Face it; Angel is better. She can appear and disappear at will, she's always got a deadly weapon, and worse of all, she regenerates almost instantly. Lucky for you, she does play fair; if you out run her, she might leave you alone. If you do something silly like jump through a window, she'll go away. (If you survive the fall, you can rejoice!) If you hit her too hard, she'll disappear. (Of course, next time you see her, she's going to be pretty peeved at you.) And finally, if you survive until 5AM, she'll allow you to continue your life in peace. And so, the primary goal is not to defeat Angel, but to survive her wrath. I wouldn't bet money on surviving all 6 hours, though. Expect to lose 2, maybe 3 victims before daybreak...