Malcolm Steinberg - LAI Group

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