Steve Wynn Resigns as RNC Finance Chair Amid Sexual Harassment Claims

WYNN shares continued to slip on Monday

By Karl Utermohlen, InvestorPlace Writer

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Steve Wynn has resigned as the finance chair of the Republican National Committee (RNC) amid sexual harassment allegations against him.

Steve Wynn ResignsThe casino mogul — owner of Wynn Resorts, Limited (NASDAQ:WYNN) — announced Saturday that he will no longer be the national finance chairman of the RNC following claims in The Wall Street Journal that accuse Wynn of taking part in a pattern of sexual misconduct that stems decades.

The report by the WSJ interviewed more than 150 current and former casino workers, many of which chose not to speak up over fear that they would lose their employment. The Democratic party responded to the allegations by asking the RNC and Republican candidates Wynn backed to return his donations, or donate an equal amount to charity.

The move comes following the RNC’s demands that Democratic politicians do the same with donor Harvey Weinstein following allegations against him. However, Wynn donated to Nevada Democrats as well.

As a casino owner, Wynn knows a thing or two about hedging his bets, choosing to donate to Hillary Clinton during her 2016 presidential campaign, as well as his friend President Trump, Jeb Bush, Chris Christie, Interior Secretary Ryan Zinke and Senators Ted Cruz, Marco Rubio and Tim Scott.

The Nevada Democratic Party has not responded to these allegations regarding whether or not it would return donations.

WYNN stock fell 6.9% on MOnday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/01/steve-wynn-resigns-wynn-resorts/.

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