Early Life
Manuel Lao Hernández was born in Almería, Spain, in 1944. He moved to Catalonia at age 12. He started working in a bar. His early life instilled a strong work ethic and determination.
Rise to Success
In 1978, he founded Cirsa, Compañía Internacional de Recreativos, S.A., which manufactured and operated slot machines and entertainment equipment. Cirsa grew rapidly, expanding into casinos, bingo halls, and sports betting. Cirsa expanded internationally, particularly in Latin America.
Key Business Strategies
Key strategies included diversifying operations, expanding into new markets, and adapting to regulatory changes. In 2018, Lao sold Cirsa to Blackstone for an estimated $2.6 billion. He currently invests through Nortia Capital Investment Holding. He also has investments in the real estate sector.
Philanthropy
Manuel Lao Hernández established the Fundación Manuel Lao in 2005 to support various charitable causes and has supported various charitable initiatives over the years. During the COVID-19 pandemic, the Fundación Manuel Lao and Nortia Capital Investment Holding supported hospitals, medical staff, and emergency services.
