Wynn Resorts continues to fall after casino mogul Steve Wynn steps down from the RNC amid sexual misconduct allegations (WYNN)

pulse

January 29, 2018 2:56 PM

Over the weekend, Wynn Resorts CEO Steve Wynn stepped down as RNC finance chairman in light of allegations of sexual misconduct.

Over the weekend, Wynn announced he would step down from his role as finance chair of the Republican National Committee.
Wynn was a prolific political donor, but in the wake of the allegations some lawmakers are turning their back on him, and calling for the return of his donations.

Shares of Wynn Resorts continued its slide on Monday morning. On Saturday, CEO Steve Wynn stepped down from his role as the Republican National Committee's finance chairman in the wake of allegations of sexual misconduct.

The casino giant's stock fell 6.58% at $168.42 per share in pre-market trading.

Multiple women have accused the billionaire casino mogul of pressuring them into sex and creating a sexualized workplace, The Wall Street Journal reported on Friday. Wynn has denied the allegations and called them "preposterous."

Wynn has been a prolific donor to Republican candidates and groups, and joined the RNC as its finance chairman after President Donald Trump's election. He has donated mostly to Republicans, such as Sen. Dean Heller, Sen. John McCain, and former Rep. Joe Heck, though he has made a few smaller donations to Democrats, such as former Vice President Joe Biden and Hillary Clinton.

Some lawmakers have considered returning their donations from Wynn amid the allegations.

Wynn's stock was still up 1.72% year-to-date.

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