Malcolm Steinberg

Name: Malcolm Steinberg

Country: Australia

Education: Perth Boys High School and Kent Street High School

Type of Business: Entrepreneur

Main Achievements: Chairman of the board of LAI Group, launched Timezone entertainment centers, came in at No. 41 with a $ 212 million net worth on  this year’s WA Rich List . The Timezone Gold Coast family entertainment center has been named the Gold Coast’s 2016 Business of the Year.

Something interesting about the person:

The lifetime American Achievement Award  from the American Amusement Machine Association (AAMA)  was received by Malcolm Steinberg. in the year 2009. It was the very  first and only time the award has been issued to a non-American.

Biography:

Born in Perth, Australia, Malcolm Steinberg is the founder of Leisure and Allied Industries Group (LAI Group). At the age of 16, he left school to pursue business. The story begins with 21 pinball machines and a dream. When Australia’s most successful businessman decided to bring 21 pinball machines to Perth from Eastern states in 1958, he was on the road to building an empire. Malcolm reevaluated the way people perceived arcades and the audience it attracted. He thought that if they are developing modern family restaurants such as MacDonald’s and Pizza Hut, why can’t there be games which become a family destination. With such a vision, Malcolm founded Leisure and Allied Industries (LAI), working as the CEO for fifty-five years till 2013. Malcolm Steinberg is now the non-executive chairman of LAI. He dedicated the LAI games for the design, development, manufacture, and worldwide distribution of interactive amusement games. It has manufacturing and distribution facilities in Indonesia, Singapore, the UK, the USA, and the Middle East. He launched Timezone entertainment in the ensuing days at Murray Street, Perth, in 1978, claiming that it is the very first family-oriented amusement center of that time, having their sole focus on family emphasis. In 1995, Timezone embarked on its ventures outside Australia. Under Malcolm’s administration, the Timezone business expanded over to 300 family entertainment centers maneuvering across , New Zealand,Australia Indonesia, the Philippines,Singapore, India, and Vietnam, with yearly sales exceeding  over $120 million. In the early 1990s, Timezone arcades became a part of the landscape of Australia . The Timezone Gold Coast family entertainment center was recognized as Gold Coast’s 2016 Business of the Year and is considered as the largest indoor amusement park in Australia.

Currently, Timezone is in the process of developing online services. Howsoever, the ownership of Steinberg’s Timezone altered in the year 2017 when Malcolm Steinberg  establishedathe entertainment and education group and Quadrant Private Equity. The Entertainment and Education Group. Hence, Quadrant Private Equity acquired 50% equity in the Timezone Group. TEEG had plans to acquire the ten pin bowling and entertainment division of Ardent Leisure for $160 million. Along these lines, TEEG obtained all benefits of Ardent’s Bowling and Entertainment division, accessing new brands and offering a comfortable experience for clients across Australia and New Zealand. Interestingly, Malcolm didn’t just stop there; in fact, his LAI group incorporates nine core businesses.

Helix Leisure is the supply company of the LAI group. It was established by the union of four separately developed businesses by LAI in 2014. In 2017, Helix Leisure purchased Booking Boss. It is a ticketing and systems business specializing in the entertainment and tourism industries.  Matahari Leisure in Jakarta, Indonesia, is a manufacturing business that manufactures Interactive Amusement Games, LAI Games then distribute them internationally. Also, Matahari Leisure does contract manufacturing for Indonesian Companies. Embed, on the other hand, is a business specializing in the development of Debit Card payment and Management systems for the Family Entertainment Industry worldwide. It has completed more than 2000 installations in 44 countries. It is considered as the market leader in its field operating through its own offices in Singapore, Australia, Middle East, UK, and the USA. The Locker Network (TLN) administers Digital Luggage Lockers having more than three thousand installations in the USA. Matahari Leisure manufactures the Lockers. TLN is planning to expand the operation of these Digital Lockers to other countries. Zone Bowling, formerly known as AMF Bowling, operates 34 bowling centers throughout Australia and New Zealand. Kingpin family entertainment centers operate 8 locations in Australia. Overall. The LAI Group has more than 5000 employees, with annual sales exceeding $600 million.  the Lifetime Achievement Award  was received by Malcolm Steinberg from the American Amusement Machine Association (AAMA) in the year 2009. He is the first Non-American to receive this award.

 

 

Links:

https://www.linkedin.com/in/malcolm-steinberg-93674839/

https://www.businessnews.com.au/Person/Malcolm-Steinberg

https://teeg.com/case-team/malcolm-steinberg/