M anuel Lao Hernández is a self-made Spanish billionaire who built a massive fortune in the gambling and gaming industry. He is the founder of Cirsa, a company he started in 1978 with his brother. He grew Cirsa from a small business focused on slot machines into Spain's largest gaming operator and a major multinational corporation. The company's empire included a vast portfolio of casinos, bingo halls, slot machine parlors, and sports betting operations across Spain, Italy, and Latin America.

For four decades, Lao presided over Cirsa's relentless expansion, making him Spain's undisputed "Gaming King." In 2018, in a landmark deal, he sold the vast majority of Cirsa's operations to the American private equity giant, Blackstone, for a reported sum of over $2.5 billion. He retained some casino businesses in Argentina, which he continues to operate. The sale crystalized his immense fortune, which he now manages through his family office, Nortia Capital Investment Holding, which invests in real estate, hotels, and private equity.