The casino magnate who stepped down from his position after The Post reported he allegedly sexually attacked his full-blood sister — and then said in court papers it was consensual — has been reinstated because his team says his rap sheet from 2007 is no longer relevant.

“It’s old news,” said David Runciman, director of Claremont Partners, the prime developer of the proposed Catskills casino project, said in a statement of Michael Treanor, CEO of the Nevele Casino and Resort.

“Nonetheless, we thought it was prudent to ask Michael to step aside while the facts were re-examined.”

“Having completed a review, we have concluded, as have regulators in the past, that Michael’s character and fitness are unimpeachable and that certain recent articles were part of a smear campaign, and we have asked him to continue in his role.”

Treanor, 48, submitted a $1 million application fee to have the Nevele Casino project considered for one of the four upstate casino licences.

“It’s like ‘Game of Thrones,’ with the incest,” a casino industry insider said.

The source said Treanor’s alleged criminal history basically disqualifies the project because of the New York state Gaming Commission’s rigorous background check.

“Incredible. The casino is a business under bright spotlights. You have to be clean as the driven snow. I don’t think you can get away with this running a candy store, let alone a casino.”

The source said the operators are basically “saying they need him to pull the project through.”