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Malcolm Steinberg - LAI Group

Malcolm Steinberg - LAI Group

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 In this exclusive feature profile, we sit down with one of Australia’s most enduring and visionary entrepreneurs — Malcolm Steinberg. Born and raised in Perth in the 1940s, Malcolm’s entrepreneurial journey began at just 18 years old, when he acquired 21 pinball machines from a relative and began placing them in corner stores, milk bars, and pubs across the city. That humble venture marked the beginning of what would become a pioneering career in the world of interactive entertainment. In 1978, Malcolm launched the first Timezone in downtown Perth — a bold move that would ultimately redefine family entertainment across the Asia-Pacific. Over the decades, Timezone grew from a single arcade into a global entertainment powerhouse, with venues in Australia, Southeast Asia, and the Middle East. Along the way, Malcolm also founded LAI Games, a Perth-based arcade game manufacturer that has produced some of the world’s most iconic and innovative machines — exporting to over 50 countries worldwide. But his legacy doesn’t stop at business. In honour of his grandmother, a Russian immigrant and early inspiration, Malcolm established the Malka Foundation — a philanthropic venture focused on empowering young people and supporting social enterprise across Australia. In this conversation, we explore the full arc of Malcolm’s journey: from his early days in suburban Perth, to building Timezone into a generational brand, to giving back through the Malka Foundation. Along the way, he shares lessons on reinvention, risk, and building businesses that endure. The Interview | Australia's most watched business program. Founder & Host | Rob Langton Produced & distributed exclusively | Ready Media Group. Further Information: https://readymedia.com.au/ https://www.lai.com.au/ #ausbiz #businessnews #richlist #malcolmsteinberg #theinterviewaustralia

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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.