The Ticker

Wynn: No criminals to profit from casino site

Wynn Resorts says all three owners of the former chemical plant in Everett where it wants to develop a $1.6 billion resort casino have signed statements that no criminals will secretly profit from the land deal.

The Massachusetts Gaming Commission has said signing the disclosure document was critical as it decided whether to award Wynn the lone casino license in the lucrative Boston region. The state's 2011 casino law expressly prohibits felons from profiting from a casino.

The commission's investigators are concerned at least two convicted felons are still silent partners in the land venture and at least one of the owners of the land had refused to sign the statement in recent months.

Mohegan Sun is also vying for the Boston-area casino license with a Revere proposal.

Coach to close 70 stores

Upscale retailer Coach Inc. warned of lower sales next year and said it would close about 70 stores in North America as it struggles against fast-growing rivals in its biggest market.

Coach's stock fell as much as 11 percent and was one of the top losers on the New York Stock Exchange yesterday.

The clothes, shoes and handbags retailer said it expected revenue to fall in low double digits in percentage terms in the year ending next June, with North American same-store sales falling in "high teens" in percentage terms.

Known for its Poppy handbags, the company has struggled to keep up with rivals Kate Spade & Co. and Michael Kors Holdings Ltd.

Silver, gold rise as Fed holds rates low

Gold and silver futures rose yesterday, a day after the Federal Reserve said it saw no immediate end to its low-interest rate policy.

Gold for August delivery rose $41.40, or 3.3 percent, to $1,314 an ounce. Silver for July delivery rose 87 cents, or 4.4 percent, to $20.65 an ounce.

Today

 Darden Restaurants reports quarterly financial results before the market opens.

THE SHUFFLE

Peabody Essex Museum in Salem has announced the appointment of Amanda Clark MacMullan as chief philanthropy officer. Recently managing partner and chief development officer for the venture philanthropy fund New Profit Inc., MacMullan brings nearly 15 years of high-level fundraising experience from the education and nonprofit sectors.

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