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Steve Wynn steps down as RNC Finance Chairman
Billionaire Steve Wynn Resigns as RNC Finance Chair Amid Sexual Harassment Claims
LAS VEGAS, NV - SEPTEMBER 30: Wynn Resorts Chairman and CEO Steve Wynn speaks at the Global Gaming Expo (G2E) 2014 at The Venetian Las Vegas on September 30, 2014 in Las Vegas, Nevada. The American Gaming Association sponsors the annual gaming industry trade show and conference which runs through October 2 and is expected to feature 485 exhibitors showing off their latest products and services to about 27,000 attendees. (Photo by Ethan Miller/Getty Images)
Ethan Miller Getty Images
By Bloomberg
Updated: January 27, 2018 3:53 PM ET
(WASHINGTON) — Billionaire Steve Wynn has stepped down as Republican National Committee finance chair, the RNC’s chairwoman said, a day after reports that the casino magnate had engaged in multiple instances of sexual harassment.
The decision may be a blow to the Republican Party’s fundraising as it gears up for midterm elections in November with an unpopular president as its standard-bearer.
“Today I accepted Steve Wynn’s resignation as Republican National Committee finance chair,” the RNC’s Ronna Romney McDaniel said in a statement. Wynn’s departure was first reported by Politico.
Wynn, the founder of Wynn Resorts Ltd., paid $7.5 million to settle claims brought by a former manicurist at his Las Vegas resort who said he pressured her to have sex with him, the Wall Street Journal said Friday. The report contained numerous other allegations of harassment and coercion by other women.
Wynn, who turns 76 on Saturday, denied the allegations. “The idea that I ever assaulted any woman is preposterous,” he said in a statement.
The board of directors of Wynn Resorts met and formed a special committee comprised of independent directors to investigate the allegations, according to a statement issued by the board.
‘Deeply Committed’
“The board is deeply committed to ensuring the safety and wellbeing of all of the company’s employees and to operating with the highest ethical standards,” it said in the statement.
Committee members contacted by Bloomberg said they first learned of the allegations from news reports. One, who asked not to be identified because he wasn’t authorized to speak for the party, said that in his view the Republican Party couldn’t keep Wynn in such a high-profile position given the nature of the accusations.
Under Wynn, the RNC set a fundraising record in 2017 for a non-election year. It ended November with $33.5 million more in the bank than its Democratic counterpart, thanks in part to the big donors Wynn can attract.
“Most of the credit for the cash on hand advantage goes to chairwoman McDaniel and her team. But Wynn was certainly a part of the success. He will be hard to replace, especially mid-cycle,” said Dan Eberhart, chief executive officer of oilfield services firm Canary LLC and a Republican fundraiser. “It’s another worry the Republicans don’t need.”
Billionaire Steve Wynn Resigns as RNC Finance Chair Amid Sexual Harassment Claims
LAS VEGAS, NV - SEPTEMBER 30: Wynn Resorts Chairman and CEO Steve Wynn speaks at the Global Gaming Expo (G2E) 2014 at The Venetian Las Vegas on September 30, 2014 in Las Vegas, Nevada. The American Gaming Association sponsors the annual gaming industry trade show and conference which runs through October 2 and is expected to feature 485 exhibitors showing off their latest products and services to about 27,000 attendees. (Photo by Ethan Miller/Getty Images)
Ethan Miller Getty Images
By Bloomberg
Updated: January 27, 2018 3:53 PM ET
(WASHINGTON) — Billionaire Steve Wynn has stepped down as Republican National Committee finance chair, the RNC’s chairwoman said, a day after reports that the casino magnate had engaged in multiple instances of sexual harassment.
The decision may be a blow to the Republican Party’s fundraising as it gears up for midterm elections in November with an unpopular president as its standard-bearer.
“Today I accepted Steve Wynn’s resignation as Republican National Committee finance chair,” the RNC’s Ronna Romney McDaniel said in a statement. Wynn’s departure was first reported by Politico.
Wynn, the founder of Wynn Resorts Ltd., paid $7.5 million to settle claims brought by a former manicurist at his Las Vegas resort who said he pressured her to have sex with him, the Wall Street Journal said Friday. The report contained numerous other allegations of harassment and coercion by other women.
Wynn, who turns 76 on Saturday, denied the allegations. “The idea that I ever assaulted any woman is preposterous,” he said in a statement.
The board of directors of Wynn Resorts met and formed a special committee comprised of independent directors to investigate the allegations, according to a statement issued by the board.
‘Deeply Committed’
“The board is deeply committed to ensuring the safety and wellbeing of all of the company’s employees and to operating with the highest ethical standards,” it said in the statement.
Committee members contacted by Bloomberg said they first learned of the allegations from news reports. One, who asked not to be identified because he wasn’t authorized to speak for the party, said that in his view the Republican Party couldn’t keep Wynn in such a high-profile position given the nature of the accusations.
Under Wynn, the RNC set a fundraising record in 2017 for a non-election year. It ended November with $33.5 million more in the bank than its Democratic counterpart, thanks in part to the big donors Wynn can attract.
“Most of the credit for the cash on hand advantage goes to chairwoman McDaniel and her team. But Wynn was certainly a part of the success. He will be hard to replace, especially mid-cycle,” said Dan Eberhart, chief executive officer of oilfield services firm Canary LLC and a Republican fundraiser. “It’s another worry the Republicans don’t need.”
