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 McDanielRNC rips Politico editor-in-chief over Trump tweet Election Countdown: Cruz, O'Rourke fight at pivotal point | Ryan hitting the trail for vulnerable Republicans | Poll shows Biden leading Dem 2020 field | Arizona Senate debate tonight Dem senator says 'we're not in a court of law' when asked about presumption of innocence for Kavanaugh 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 TrumpFive takeaways from Gillum and DeSantis’s first debate GOP warns economy will tank if Dems win Gorbachev calls Trump's withdrawal from arms treaty 'a mistake' 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 HellerDemocrats slide in battle for Senate Biden: American values being 'shredded' under Trump Trump says Heller won lone Nevada Senate debate: 'He beat her very badly' MORE (D-Nev.), John McCainJohn Sidney McCainMeghan McCain calls Russian attacks against her father the 'highest compliment' to her family Arizona Dems hope higher Latino turnout will help turn the state blue McConnell: GOP could try to repeal ObamaCare again after midterms 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 McConnellEx-lawmaker urges Americans to publicly confront officials Manchin wrestles with progressive backlash in West Virginia Democrats slide in battle for Senate MORE (R-Ky.) and Sens. Marco RubioMarco Antonio RubioO'Rourke's rise raises hopes for Texas Dems down ballot Meghan McCain calls Russian attacks against her father the 'highest compliment' to her family The Memo: Saudi storm darkens for Trump MORE (R-Fla.), Jeff FlakeJeffrey (Jeff) Lane FlakeTrump boosts McSally, bashes Sinema in Arizona Watch live: Trump speaks at Arizona rally Mnuchin to attend anti-terror meeting in Saudi Arabia following Khashoggi disappearance MORE (R-Ariz.), Tim ScottTimothy (Tim) Eugene ScottTrump should stick to his guns and close failed South Carolina nuclear MOX project Treasury releases guidance on 'opportunity zone' program created by Trump tax law Overnight Health Care — Presented by the Coalition for Affordable Prescription Drugs — Senators face Wednesday vote on Trump health plans rule | Trump officials plan downtime for ObamaCare website | Lawmakers push for action on reducing maternal deaths MORE (R-S.C.), Orrin HatchOrrin Grant HatchGOP leaders hesitant to challenge Trump on Saudi Arabia Congress should work with Trump and not 'cowboy' on Saudi Arabia, says GOP senator US to open trade talks with Japan, EU, UK MORE (R-Utah) and Bob CorkerRobert (Bob) Phillips CorkerLawmakers point fingers at Saudi crown prince in Khashoggi's death Corker calls for 'collective' response from Western countries if Saudi crown prince found responsible in Khashoggi's death The Memo: Trump in a corner on Saudi Arabia MORE (R-Tenn.).

Wynn has also made donations to Democrats, giving over $31,000 to former Sen. Harry ReidHarry Mason ReidFive takeaways from testy Heller-Rosen debate in Nevada Major overhauls needed to ensure a violent revolution remains fictional Senate heads home to campaign after deal on Trump nominees MORE (D-Nev.) and smaller donations to former Vice President Joe BidenJoseph (Joe) Robinette BidenBig Dem donors stick to sidelines as 2020 approaches Biden: American values being 'shredded' under Trump Election Countdown: Small-donor donations explode | Russian woman charged with midterm interference | Takeaways from North Dakota Senate debate | O'Rourke gives 'definitive no' to 2020 run | Dems hope Latino voters turn Arizona blue MORE and former Democratic presidential nominee Hillary ClintonHillary Diane Rodham ClintonSanders thanks Iowa voters for giving momentum to progressive agenda Manchin wrestles with progressive backlash in West Virginia Arizona newspaper backs Democrat in dead heat Senate race MORE.

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