Casino magnate Steve Wynn resigned from his post as head of the Republican National Committee’s finance committee, as the billionaire was battered by claims of sexual misconduct that have sent his company’s stock reeling.
In a terse statement, RNC Chair Ronna Romney-McDaniel confirmed that Wynn — a prominent supporter of President Donald Trump — had stepped aside in the wake of detailed and numerous allegations against him.
“Today I accepted Steve Wynn’s resignation as Republican National Committee Finance Chair,” McDaniel said on Saturday.Wynn was a prolific fundraiser for the RNC, and donated thousands of dollars to Trump’s inauguration effort, as well as an assortment of GOP candidates.
Wynn also presided over a record-setting cash haul for the RNC, which is projected to have raised more than $130 million in 2017, and routinely outraised its Democratic counterpart.
His resignation comes as the party gears up for what polls suggest will be a hard-fought midterm election, with Democrats seemingly poised to wrest at least one chamber of Congress from Republican control. The opposition party currently leads on the generic ballot by an average of nearly 8 points, according to Real Clear Politics.
Meanwhile, the mogul’s empire may also take a financial hit. On Friday, Wynn Resorts stock plunged more than 10 percent after The Wall Street Journal reported allegations that its billionaire CEO engaged in sexual misconduct over a course of years.
Dozens of people familiar with the allegations described Wynn as having engaged in a pattern of harassment over a lengthy period of time, resulting in financial settlements. Wynn responded to the publication by saying the suggestion of his having acted improperly with women was “preposterous.”
The allegations surrounding Wynn put the RNC and Trump in a delicate spot. After movie mogul Harvey Weinstein was battered by allegations, numerous Republicans called on Democrats to return the donations given to the party and its candidates — and some political observers are already calling on the GOP to do the same.
–CNBC’s Michael Sheetz contributed to this article.
