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 McDanielWarren calls for House to begin impeachment proceedings Fox's Kilmeade questions whether Omar is 'an American first' after 9/11 remarks Donald Trump has secured the future of our American courts 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 TrumpPresenting the 2020 Democratic bracket The time has come for the Democrats to act, finally DHS expedites border wall replacement in Arizona, Texas 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 McCainTrump: McCain 'did the nation a tremendous disservice' with ObamaCare vote NBC's Kelly O'Donnell tears up over video celebrating 25 years at network Biden to appear on 'The View' for first interview on 2020 bid 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 McConnellOvernight Defense: Watchdog clears defense chief in ethics probe | Pentagon to handle security background checks | Senate to take up Trump's Yemen veto next week Senate to take up Trump's Yemen veto next week A new age for tobacco — raising the age to 21 is a smart move MORE (R-Ky.) and Sens. Marco RubioMarco Antonio RubioThe Memo: Trump's media dominance challenged by 2020 Dems Dems plot aggressive post-Mueller moves, beginning with McGahn Senate Republicans tested on Trump support after Mueller MORE (R-Fla.), Jeff FlakeJeffrey (Jeff) Lane FlakePollster says Trump unlikely to face 'significant' primary challenge Trump gives nod to vulnerable GOP Sen. McSally with bill signing Flake opens up about threats against him and his family MORE (R-Ariz.), Tim ScottTimothy (Tim) Eugene ScottSpicer defends Trump's White House correspondents dinner boycott GOP senators dismiss Booker reparations proposal On The Money — Presented by Job Creators Network — GOP senators urge Trump not to nominate Cain | Treasury expected to miss Dem deadline on Trump tax returns | Party divisions force Dems to scrap budget vote | House passes IRS reform bill MORE (R-S.C.), Orrin HatchOrrin Grant HatchHatch warns 'dangerous' idea of court packing could hurt religious liberty Former Democratic aide pleads guilty to doxing GOP senators attending Kavanaugh hearing How do we prevent viral live streaming of New Zealand-style violence? MORE (R-Utah) and Bob CorkerRobert (Bob) Phillips CorkerEx-GOP Sen. Corker: Trump primary would be 'good thing for our country' Pollster says Trump unlikely to face 'significant' primary challenge GOP gets used to saying 'no' to Trump MORE (R-Tenn.).

Wynn has also made donations to Democrats, giving over $31,000 to former Sen. Harry ReidHarry Mason ReidSeven big decisions facing Biden in 2020 primary Senate buzzsaw awaits 2020 progressive proposals Sanders courts GOP voters with 'Medicare for All' plan MORE (D-Nev.) and smaller donations to former Vice President Joe BidenJoseph (Joe) Robinette BidenTrump defends Charlottesville comments Trump: 'I am a young, vibrant man' The Hill's Morning Report — Biden takes aim at Trump, early battlegrounds MORE and former Democratic presidential nominee Hillary ClintonHillary Diane Rodham ClintonThe time has come for the Democrats to act, finally Mueller report may result in Russian sanctions but not better behavior Dem race shows signs it could get nasty MORE.

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