Steve Wynn resigns as RNC finance chair after sexual misconduct allegations
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Republican National Committee (RNC) finance chairman Steve Wynn is stepping down from his post following sexual misconduct allegations, according to a Republican source familiar with the matter.

"Today I accepted Steve Wynn’s resignation as Republican National Committee finance chair," RNC Chairwoman Ronna Romney McDaniel said in a statement obtained by The Hill.

The RNC's statement Saturday, first reported by Politico, was its first response since allegations of sexual misconduct involving the casino mogul broke the previous day.

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Wynn issued a statement on Saturday, saying he was resigning in light of the "distraction" created by the allegations. 

"Effective today I am resigning as Finance Chairman of the RNC. The unbelievable success we have achieved must continue. The work we are doing to make America a better place is too important to be impaired by this distraction.  I thank the President for the opportunity to serve and wish him continued success," Wynn said. 

GOP officials came under pressure to respond after The Wall Street Journal reported Friday on the allegations against Wynn, which span decades, from employees at his properties.

The Journal reported that Wynn reached a $7.5 million settlement with a manicurist who worked at his Wynn Las Vegas property who said he forced her to have sex with him. Other women reported multiple other instances of inappropriate touching or comments.

Wynn denied misconduct allegations in a statement to the newspaper. 

“The idea that I ever assaulted any woman is preposterous. We find ourselves in a world where people can make allegations, regardless of the truth, and a person is left with the choice of weathering insulting publicity or engaging in multi-year lawsuits. It is deplorable for anyone to find themselves in this situation,” Wynn said.

The casino mogul claimed that “the instigation of these accusations is the continued work of my ex-wife Elaine Wynn, with whom I am involved in a terrible and nasty lawsuit in which she is seeking a revised divorce settlement.” Elaine Wynn's attorney denied the claim. 

News of the allegations sent Wynn Resorts's stocks plummeting on Friday, with the company's board of directors launching an investigation "comprised solely of independent directors" to look into the allegations.

It also fueled political attacks, with the Democratic National Committee (DNC) hammering its Republican counterpart for two consecutive days, accusing party officials of having a double standard when it came to handling allegations of sexual misconduct.

Democrats noted that Republicans were quick to call out Democratic lawmakers and say that the party should return donations from filmmaker Harvey Weinstein when a wave of sexual misconduct allegations against him emerged in the fall.

"In the exact words of RNC Chairwoman Ronna McDanielRonna Romney McDanielThe Hill's Morning Report — Can the economy help Republicans buck political history in 2018? GOP chairwoman: Anyone who doesn't support Trump 'will be making a mistake' The Hill's Morning Report — Sponsored by PhRMA — Washington braces for another tumultuous week MORE, ‘If you stand for treating women well and you stand for the respect of women, you shouldn't take money from somebody who treated women with the absolute highest level of disrespect,’ ” DNC deputy communications director Sabrina Singh said in a statement Friday that the party recirculated on Saturday.

The DNC was criticized from right-leaning political groups after the committee donated the money it received last cycle from Weinstein to three liberal political groups.

Wynn was tapped to serve as the GOP's finance chairman following President TrumpDonald John TrumpIran claims it rejected Trump meeting requests 8 times ESPY host jokes Putin was as happy after Trump summit as Ovechkin winning Stanley Cup Russian ambassador: Trump made ‘verbal agreements’ with Putin MORE's inauguration last year. He previously called Trump a "great friend" in 2016 and served as a vice chairman on Trump's inaugural committee.

The businessman has donated to an array of political organizations as well both Republican and Democratic politicians.

He gave around $450,000 to the RNC and over $761,000 to the National Republican Senatorial Committee.

Party officials have not indicated yet what they will do with Wynn's donations. 

Wynn donated $729,217 to Trump's inauguration and has made major contributions to Sens. Dean HellerDean Arthur HellerSenate Dems build huge cash edge in battlegrounds Jacky Rosen hits Dean Heller over health care in first negative ad GOP moderates hint at smooth confirmation ahead for Kavanaugh MORE (D-Nev.), John McCainJohn Sidney McCainEx-Montenegro leader fires back at Trump: ‘Strangest president' in history McCain: Trump plays into 'Putin's hands' by attacking Montenegro, questioning NATO obligations Joe Lieberman urges voters to back Crowley over Ocasio-Cortez in general MORE (R-Ariz.) and former Rep. Joe HeckJoseph (Joe) John HeckAnti-Trump Republicans better look out — voters might send you packing How endangered GOP Sen. Dean Heller is seeking to hang on Bottom line MORE (R-Nev.). 

The mogul has also made smaller donations to various lawmakers, including Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellSenate GOP breaks record on confirming Trump picks for key court Senate Democrats block resolution supporting ICE The Hill's Morning Report — Trump’s walk-back fails to stem outrage on Putin meeting MORE (R-Ky.) and Sens. Marco RubioMarco Antonio RubioThe Hill's Morning Report — Trump’s walk-back fails to stem outrage on Putin meeting The Memo: Trump allies hope he can turn the page from Russian fiasco Senate weighs new Russia response amid Trump backlash MORE (R-Fla.), Jeff FlakeJeffrey (Jeff) Lane FlakeHillicon Valley: EU hits Google with record B fine | Trump tries to clarify Russia remarks | Sinclair changing deal to win over FCC | Election security bill gets traction | Robocall firm exposed voter data Overnight Defense: More Trump drama over Russia | Appeals court rules against Trump on transgender ban | Boeing wins Air Force One contract | Military parade to reportedly cost M Senate resolution backs intelligence community on Russian meddling MORE (R-Ariz.), Tim ScottTimothy (Tim) Eugene ScottGOP senators introduce resolution endorsing ICE Senate takes symbolic shot at Trump tariffs Congress should prioritize diversity so government reflects Americans MORE (R-S.C.), Orrin HatchOrrin Grant HatchDon't place all your hopes — or fears — on a new Supreme Court justice The Hill's Morning Report — Trump’s walk-back fails to stem outrage on Putin meeting On The Money: Fed chief lays out risks of trade war | Senate floats new Russia sanctions amid Trump backlash | House passes bill to boost business investment MORE (R-Utah) and Bob CorkerRobert (Bob) Phillips CorkerTrump’s damage control falters Trump says Russia doesn’t pose threat, contradicting intelligence director Fed Chair Powell's charm offensive touts a booming economy MORE (R-Tenn.).

Wynn has also made donations to Democrats, giving over $31,000 to former Sen. Harry ReidHarry Mason ReidSenate GOP breaks record on confirming Trump picks for key court Don’t worry (too much) about Kavanaugh changing the Supreme Court Dem infighting erupts over Supreme Court pick MORE (D-Nev.) and smaller donations to former Vice President Joe BidenJoseph (Joe) Robinette BidenElection Countdown: Senate, House Dems build cash advantage | 2020 Dems slam Trump over Putin presser | Trump has M in war chest | Republican blasts parents for donating to rival | Ocasio-Cortez, Sanders to campaign in Kansas Hoping to catch fire, House Dems eye White House Dems look for candidate who will punch Trump ‘square in the face’ MORE and former Democratic presidential nominee Hillary ClintonHillary Diane Rodham ClintonState Dept: Russia’s allegations about American citizens ‘absolutely absurd’ Trump on possible sit-down with Mueller: 'I've always wanted to do an interview' Election Countdown: Senate, House Dems build cash advantage | 2020 Dems slam Trump over Putin presser | Trump has M in war chest | Republican blasts parents for donating to rival | Ocasio-Cortez, Sanders to campaign in Kansas MORE.

Josh Delk contributed to this report, which was updated at 3:30 p.m.