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 McDanielEx-Trump national security official joins lobbying firm Virginia abortion bill reignites national debate Conservatives pound BuzzFeed, media over Cohen report 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 TrumpJustice Department preparing for Mueller report as soon as next week: reports Smollett lawyers declare 'Empire' star innocent Pelosi asks members to support resolution against emergency declaration 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 HellerTrump suggests Heller lost reelection bid because he was 'hostile' during 2016 presidential campaign Trump picks ex-oil lobbyist David Bernhardt for Interior secretary Oregon Dem top recipient of 2018 marijuana industry money, study finds MORE (D-Nev.), John McCainJohn Sidney McCainMellman: Where are good faith and integrity? GOP senator says Republicans didn't control Senate when they held majority Pence met with silence after mentioning Trump in Munich speech 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 McConnellFox News has covered Ocasio-Cortez more than any 2020 Dem besides Warren: analysis Durbin after reading Green New Deal: 'What in the heck is this?' Dems think they're beating Trump in emergency declaration battle MORE (R-Ky.) and Sens. Marco RubioMarco Antonio RubioThe Hill's 12:30 Report: Trump escalates fight with NY Times The Hill's Morning Report - Can Bernie recapture 2016 magic? Venezuela puts spotlight on Rubio MORE (R-Fla.), Jeff FlakeJeffrey (Jeff) Lane FlakeTrump suggests Heller lost reelection bid because he was 'hostile' during 2016 presidential campaign Live coverage: Trump delivers State of the Union Sasse’s jabs at Trump spark talk of primary challenger MORE (R-Ariz.), Tim ScottTimothy (Tim) Eugene ScottSenate approves border bill that prevents shutdown Senate passes bill to make lynching a federal crime Partnerships paving the way to sustain and support Historically Black Colleges and Universities MORE (R-S.C.), Orrin HatchOrrin Grant HatchOrrin Hatch Foundation seeking million in taxpayer money to fund new center in his honor Mitch McConnell has shown the nation his version of power grab Overnight Health Care — Presented by PCMA — Utah Senate votes to scale back Medicaid expansion | Virginia abortion bill reignites debate | Grassley invites drug execs to testify | Conservative groups push back on e-cig crackdown MORE (R-Utah) and Bob CorkerRobert (Bob) Phillips CorkerSasse’s jabs at Trump spark talk of primary challenger RNC votes to give Trump 'undivided support' ahead of 2020 Sen. Risch has unique chance to guide Trump on foreign policy MORE (R-Tenn.).

Wynn has also made donations to Democrats, giving over $31,000 to former Sen. Harry ReidHarry Mason ReidSanders hires veteran progressive operative to manage 2020 bid Constitutional conservatives need to oppose the national emergency Klobuchar: 'I don't remember' conversation with Reid over alleged staff mistreatment MORE (D-Nev.) and smaller donations to former Vice President Joe BidenJoseph (Joe) Robinette BidenBiden tops declared 2020 Dems in New Hampshire poll O’Rourke not ruling out being vice presidential candidate Sanders on Trump insult: Crazy that president 'is a racist, a sexist, a xenophobe and a fraud' MORE and former Democratic presidential nominee Hillary ClintonHillary Diane Rodham ClintonFBI’s top lawyer believed Hillary Clinton should face charges, but was talked out of it Harris adds key Clinton aide, women of color to 2020 campaign: report Democrats more likely Trump's foil, than to foil Trump MORE.

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