UPDATE 1-Wynn Resorts to offer stock, amend credit agreement

NEW YORK, Nov 13 (Reuters) - Casino company Wynn Resorts Ltd (WYNN.O) said on Thursday it intends to offer 5 million new shares of its common stock in conjunction with its recent inclusion in the Standard & Poor's 500 Index.

Wynn, created by casino mogul Steve Wynn, intends to use the proceeds for general corporate purposes, including repayment of debt.

The casino company also said on Thursday it agreed to an amendment to its credit agreement from June 2007. The company said it will be permitted from time to time to purchase loans outstanding under the credit agreement.

Wynn said the principal amount of loans that can be repurchased shall not be more than $650 million and that all repurchases need to close on or before March 31, 2009.

Wynn's shares have plummeted from over $139 a year ago to $44.76 at Thursday's close as the economic slowdown has ravaged casino companies. (Reporting by Mark McSherry;Editing by Andre Grenon)