Butler National Corporation News
Butler National Reports Kansas Supreme Court Affirms Constitutionality of the 2007 Kansas Gaming Act
The Court, in a 22-page unanimous opinion, ruled that "while the state is not the exclusive owner and operator of all aspects of the lottery enterprise under KELA, the state owns and operates the enterprise itself and owns and operates key elements of the lottery," thus complying with 1986 constitutional amendments.
The Court also ruled that several key provisions in KELA bring the act into compliance with the 1986 amendments, which is the legislation authorizing horse and dog racing and the state-owned and operated lottery. "The payment of gaming revenues directly to the state, the ownership by the state of software licenses, the central monitoring of electronic games, and the authority to enter into management contracts and to supervise the managers constitute substantial indicia of ownership by the state and concomitant operation," the Court ruled.
Butler National is proposing to manage the Boot Hill Casino and Resort, a destination casino and resort located in
The Boot Hill Casino and Resort plan includes 800 slot machines, 20 table games, a 124-room luxury hotel, a spa, an Olympic size swimming pool, restaurants, and a 500-seat conference center/entertainment venue implemented in a phased approach. The estimated project cost is
"With the State Supreme Court ruling, we are confident Butler National Service Corporation is the best applicant to manage a destination casino known as the Boot Hill Casino and Resort in the Southwest Gaming Zone. We believe Butler National is positioned to be the applicant selected by the Lottery Gaming Facility Review Board," concluded Mr. Stewart.
Our Business:
About Butler National Corporation
Butler National Corporation operates in the Aerospace and Services business segments. The Aerospace segment focuses on the manufacturing of support systems for "Classic" commercial and military aircraft including the Butler National TSD for the Boeing 737 and 747 Classic aircraft, switching equipment for Boeing/Douglas Aircraft, weapon control systems for Boeing Helicopter and performance enhancement structural modifications for Learjet, Cessna, Dassault and Hawker/Beechcraft business aircraft. Services include electronic monitoring of water pumping stations, temporary employee services, Indian gaming services and administrative management services.
Forward-Looking Information:
There is no assurance that Butler National will be awarded a contract to manage a state-owned facility for
The information set forth above may include "forward-looking" information as outlined in the Private Securities Litigation Reform Act of 1995. The Cautionary Statements and Risk Factors, filed by the Company as Exhibit 99 to the Company's Annual Report on Form 10-K and Section 1A of Form 10-K, are incorporated herein by reference and investors are specifically referred to such Cautionary Statements and Risk Factors for discussion of factors, which could affect the Company's operations, and forward-looking statements contained herein.
Reference Information:
The Lottery Commission forwarded ten signed contracts of developers seeking to become lottery gaming facility managers in
FOR MORE INFORMATION CONTACT: Craig Stewart, Investor Relations Phone (214) 498-7775 Butler National Corporation 19920 W. 161st Street Olathe, KS 66062 Jim Drewitz, Public Relations Phone (830) 669-2466 Creative Options Communications jim@jdcreativeoptions.com
For more information, please visit the Company web site: www.butlernational.com
SOURCE Butler National Corporation
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