Green’s Dictionary of Slang

rounds with a revolving door n.

In phrases

go three rounds with a revolving door (v.) [pun on SE boxing round]

1. to be foolish or stupid [i.e. slow adj. (3)].

[Aus]B. Humphries Barry McKenzie [comic strip] in Complete Barry McKenzie (1988) 110: Dr. Mack’s a bit slow — he couldn’t go three rounds with a revolving door.

2. to be beaten up or injured in some way.

[Aus]S. Maloney Big Ask 3: Where’d you get the bump? You look like you’ve gone three rounds with a revolving door.