I didn't know it either until I saw Glenno23 posting about it ages ago (maybe GTAV or PS4 launch)
Yeah, back when i worked in WA, no midnight launches for big business..... There were some single traders that were able to do them, but they all closed up shop (not that there was many of them) about the same time GAME folded. It was to protect the little guys (which is fair) as a big franchise like EB/JB could easily put staff on, whereas an individual operator may have more trouble. It's just that there were never many single operators in gaming. It's just too hard dealing with vendors as a single owner
It was annoying when i worked at EB not being able to get our hands on stuff until the next morning at 8am thanks to government regulation though. People over east (and NZ) would have the games at 9/10pm WA time the night before and we we're getting it for nearly 12 hours after that! Crazy