Eric Trumptold CNBC on Thursday that casino mogul Steve Wynn did the right thing by stepping down as the finance chairman of the Republican National Committee, under pressure because of sexual harassment allegations.
The Wynn Resorts CEO is facing "strong" accusations of sexual misconduct that he needs to deal with, said Eric Trump, executive vice president at The Trump Organization, which has interests in real estate, retail, commercial, hotel and golf, and past dealings in casinos.
"I think ultimately he made the right decision" to resign his RNC position, the second eldest son of President Donald Trump said. "He did what he felt was right. And we support that."
"We know Steve incredibly well. We have for a very long time. He's a visionary. He's done incredible things for the industry. What he's built is unparalleled," Eric Trump said. Before being elected president, businessman Donald Trump had competed with Wynn in building casinos in Atlantic City, New Jersey. Both have since pulled out of the town.
Asked during a "Squawk Box" interview whether the scandal will affect Wynn's business, Eric Trump said: "I'm sure it will."
Shares of Wynn Resorts, with interests in Las Vegas and Macau off the south coast of China, have fallen about 17.5 percent since The Wall Street Journal reported Friday on the allegations of a "pattern of sexual misconduct" by Wynn. The Journal, citing employees, reported that the billionaire CEO pressured workers to perform sex acts. Wynn denies the allegations.
"It's a scary world, what's happening," Eric Trump said. "A lot of this coming out in a lot of companies, and it's opening up a problem that's clearly existed for a long time. I think it's good that it's being spoken about across the board. But everyone has to have their day in court."
During the 2016 election, Trump's father faced accusations about inappropriate sexual behavior. Donald Trump has denied the allegations made by several women to The New York Times before the election, and around the time of the release of the infamous 2005 "Access Hollywood" tape. In the second presidential debate, Trump had admitted to bragging on the tape about kissing and groping women but insisted he actually never did any of those things.