The Venetian Macao, a local integrated resort that houses the world’s largest casino, is not operating illegally, said Tam Pak Yuen, secretary for economy and finance of the Macao Special Administrative Region (SAR) on Friday.

The Macao Daily Times reported on Tuesday that the casino resort, owned by Las Vegas Sands, was running its properties against the SAR’s gaming regulations, as it has not submitted a replacement for a resigned local managing director.

The report quoted the local gaming regulations as saying that the management of all gaming operators must be delegate to a managing director, who must be a Macao SAR permanent resident and possess, at least, 10 percent of the concessionary capital, the report by Xinhua says.

But Tam said on the sidelines of a public function that the operator Venetian Macao has already named a new candidate for the post, the qualification of whom is being examined by the government.

He said the appointment of a managing director is of great importance and must be carried out with discretion, therefore, the government granted the operator some time to complete the necessary procedures.

Jorge Neto Valente, the resigned managing director of Venetian, is a local Portuguese and president of the Macao Lawyers Association. He declined to comment on the circumstances of his resignation from the post in April, which took effect by the end of last month, when asked by the press at a cocktail party Thursday night.

Tam stressed that senior managing staff of the gaming industries must all undergo qualification examination and the government will not, at any time, allow casino operators in Macao to run its properties intentionally in violation of local gaming regulations or relevant contracts.

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