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 McDanielBiden's strategy for midterm elections comes into focus DNC hits GOP for having 'no agenda,' echoing Biden Romney says it 'would be nuts' for the RNC to block candidates from commission debates 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 TrumpJudge rules Alaska governor unlawfully fired lawyer who criticized Trump Giuliani led fake electors plot: CNN Giuliani associate sentenced to a year in prison in campaign finance case 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 HellerSeven most vulnerable governors facing reelection in 2022 Nevada becomes early Senate battleground Nevada governor Sisolak injured in car accident, released from hospital MORE (D-Nev.), John McCainJohn Sidney McCainThese Senate seats are up for election in 2022 Redistricting reform key to achieving the bipartisanship Americans claim to want Kelly takes under-the-radar approach in Arizona Senate race MORE (R-Ariz.) and former Rep. Joe HeckJoseph (Joe) John HeckNevada becomes early Senate battleground Democratic poll finds Cortez Masto leading Laxalt by 4 points in Nevada Senate race Infighting grips Nevada Democrats ahead of midterms MORE (R-Nev.). 

The mogul has also made smaller donations to various lawmakers, including Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellThese Senate seats are up for election in 2022 WATCH: The Hill recaps the top stories of the week Effort to overhaul archaic election law wins new momentum MORE (R-Ky.) and Sens. Marco RubioMarco Antonio RubioThese Senate seats are up for election in 2022 Lawmakers press Biden admin to send more military aid to Ukraine I'm furious about Democrats taking the blame — it's time to fight back MORE (R-Fla.), Jeff FlakeJeffrey (Jeff) Lane FlakeCruz to get Nord Stream 2 vote as part of deal on Biden nominees Democrats threaten to play hardball over Cruz's blockade Rubio vows to slow-walk Biden's China, Spain ambassador nominees MORE (R-Ariz.), Tim ScottTimothy (Tim) Eugene ScottThese Senate seats are up for election in 2022 The Hill's 12:30 Report - Presented by Facebook - Supreme Court allows lawsuits against Texas abortion ban Rapper French Montana talks opioid epidemic, immigration on Capitol Hill MORE (R-S.C.), Orrin HatchOrrin Grant HatchMeet Washington's most ineffective senator: Joe Manchin Lobbying world Congress, stop holding 'Dreamers' hostage MORE (R-Utah) and Bob CorkerRobert (Bob) Phillips CorkerRepublicans, ideology, and demise of the state and local tax deduction Cheney set to be face of anti-Trump GOP How leaving Afghanistan cancels our post-9/11 use of force MORE (R-Tenn.).

Wynn has also made donations to Democrats, giving over $31,000 to former Sen. Harry ReidHarry Mason ReidThe Hill's 12:30 Report - Presented by Connected Commerce Council - Biden faces reporters as his agenda teeters Biden hits one-year mark in dire straits 'All or nothing' won't bolster American democracy: Reform the filibuster and Electoral Count Act MORE (D-Nev.) and smaller donations to former Vice President Joe BidenJoe BidenNew York woman arrested after allegedly spitting on Jewish children Former Sen. Donnelly confirmed as Vatican ambassador Giuliani associate sentenced to a year in prison in campaign finance case MORE and former Democratic presidential nominee Hillary ClintonHillary Diane Rodham ClintonNo Hillary — the 'Third Way' is the wrong way The dangerous erosion of Democratic Party foundations The Hill's Morning Report - Presented by Facebook - Democrats see victory in a voting rights defeat MORE.

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