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Billionaire Profile
M
Global Rank
#1980

Image: Ponce de León, Néstor, 1837-1899 | Public domain | via Wikimedia Commons

Manuel Lao Hernández & family

CEO, Casinos
SPAIN
Real-Time Net Worth
$2.048B
Estimated based on Casinos stock value as of March 6, 2026
-0.26% (24h)
Age
81
Source
Casinos
Industry
Gambling & Casinos
Citizenship
SPAIN

Biography

Manuel Lao Hernández, a self-made billionaire, is a prominent figure in the gambling and casino industry. Born in 1944 in Almería, Spain, he is the founder of Cirsa, Spain's largest casino company, which he built into a global gaming giant. His source of wealth primarily comes from casinos. Throughout his career, Lao has demonstrated a strong entrepreneurial spirit, innovation, and a commitment to philanthropy. His estimated net worth is $2.0 billion, reflecting his successful career and diverse investments. Lao is also a passionate art collector and has supported various charitable causes, showcasing his dedication to making a positive impact on society.

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life

Manuel Lao Hernández was born in 1944 in Almería, Spain. His family's economic struggles instilled a strong work ethic from a young age. In his teens, he moved to Catalonia, where he would later lay the groundwork for his future business ventures.

Rise to Success

Lao's career is synonymous with Cirsa, which he founded in 1978. Starting as a small manufacturing company, Cirsa grew rapidly. Through innovative strategies and expansion into new markets, Cirsa became a global powerhouse in the gaming industry. The company expanded into casinos, bingo halls, and sports betting, extending its reach across Europe and Latin America. In 2018, Lao sold Cirsa to Blackstone for approximately $2.6 billion.

Key Business Strategies

Lao's key strategies involved diversifying operations and expanding internationally. His ability to navigate regulatory environments and adapt to market changes was instrumental in Cirsa's sustained growth. He also founded the hotel chain Grupo Orenes and the real estate company Inmobiliaria Lao.

Philanthropy

Beyond his business achievements, Manuel Lao has been involved in philanthropy, supporting initiatives in education, healthcare, and social welfare, reflecting his dedication to giving back to society. He established the Manuel Lao Hernandez Foundation in 2005.

Career Milestones

1978

Founded Cirsa

Established Compañía Internacional de Recreativos, S.A. (CIRSA), which manufactured and operated slot machines and entertainment equipment.

1988

Founded International Holding Service (IHS)

Founded International Holding Service (IHS), later renamed Leisure & Gaming (L&G) in 1996.

1989

Built the hotel Don Cándido

Built the hotel Don Cándido, named in honor of his father, coinciding with the designation of Terrassa as the venue for the Hockey hierba in the 1992 Olympic Games.

2005

Founded Manuel Lao Hernandez Foundation

Founded the Manuel Lao Hernandez Foundation to give back to society.

2018

Sold Cirsa

Sold Cirsa to Blackstone for approximately $2.6 billion.

Philanthropy & Social Impact

Social Welfare

Manuel Lao Hernandez Foundation

Undisclosed

Supports various charitable causes.

Business Philosophy & Leadership

Notable Quotes

"We have come a long way from our entrepreneurial beginnings and today we are in a new dimension."

Leadership Principles

Commitment

Dedication to achieving goals and succeeding in major projects.

Trust

Belief in the reliability and integrity of people and endeavors.

Humbleness

Maintaining a modest and grounded approach despite achievements.

Generosity

Willingness to give and support others.

Involvement

Active participation and engagement in various aspects of business and community.

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