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 McDanielTexas governor skipping Republican convention RNC chairwoman: Quarantines in Democratic-led states made GOP Florida convention impossible Sinking Trump seeks to squash GOP dissent 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 TrumpOklahoma City Thunder players kneel during anthem despite threat from GOP state lawmaker Microsoft moving forward with talks to buy TikTok after conversation with Trump Controversial Trump nominee placed in senior role after nomination hearing canceled 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 HellerOn The Trail: Democrats plan to hammer Trump on Social Security, Medicare Lobbying World Democrats spend big to put Senate in play MORE (D-Nev.), John McCainJohn Sidney McCainAsian American voters could make a difference in 2020 Budowsky: Trump October surprise could devastate GOP The Memo: Biden seeks to peel older voters from Trump MORE (R-Ariz.) and former Rep. Joe HeckJoseph (Joe) John HeckCreating a more secure nation means public service hiring practices need an overhaul During this historic time, remember to value public service Creating a more resilient nation in times of crisis MORE (R-Nev.). 

The mogul has also made smaller donations to various lawmakers, including Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellGOP scrambles to fend off Kobach in Kansas primary Meadows: Election will be held on November third Don't let Trump distract us from the real threat of his presidency MORE (R-Ky.) and Sens. Marco RubioMarco Antonio RubioPompeo: Trump taking action on Chinese software firms 'in coming days' Bass: 'Lesson learned' on 2016 Castro comments Trump campaign targets Bass amid speculation over Biden VP pick MORE (R-Fla.), Jeff FlakeJeffrey (Jeff) Lane FlakeCheney clashes with Trump Sessions-Tuberville Senate runoff heats up in Alabama GOP lawmakers stick to Trump amid new criticism MORE (R-Ariz.), Tim ScottTimothy (Tim) Eugene ScottLobbyists see wins, losses in GOP coronavirus bill Revered civil rights leader Rep. John Lewis lies in state in the Capitol GOP plan would boost deduction for business meals MORE (R-S.C.), Orrin HatchOrrin Grant HatchFive takeaways as panel grills tech CEOs Trump awards medal of freedom to former congressman, Olympian Jim Ryun Mellman: Roberts rescues the right? MORE (R-Utah) and Bob CorkerRobert (Bob) Phillips CorkerCheney clashes with Trump Sessions-Tuberville Senate runoff heats up in Alabama GOP lawmakers stick to Trump amid new criticism MORE (R-Tenn.).

Wynn has also made donations to Democrats, giving over $31,000 to former Sen. Harry ReidHarry Mason ReidKamala Harris to young Black women at conference: 'I want you to be ambitious' Obama calls filibuster 'Jim Crow relic,' backs new Voting Rights Act bill McConnell warns Democrats not to change filibuster rule MORE (D-Nev.) and smaller donations to former Vice President Joe BidenJoe Biden2020 Democratic Party platform endorses Trump's NASA moon program Don't let Trump distract us from the real threat of his presidency Abrams: Trump 'doing his best to undermine our confidence' in voting system MORE and former Democratic presidential nominee Hillary ClintonHillary Diane Rodham ClintonState polling problematic — again 4 reasons why Trump can't be written off — yet 'Unmasking' Steele dossier source: Was confidentiality ever part of the deal? MORE.

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