Butler National Casino Subsidiary Poised to Offer First In Class Sports Betting to Kansas
OLATHE, KANSAS, May 16, 2022, – Leading the way to bring sports betting one step closer for Kansans, Butler National Corporation (OTCQB: BUKS), through its wholly-owned subsidiary that manages Boot Hill Casino & Resort in Dodge City, Kansas, has entered into agreements with sports betting providers, DraftKings (NASDAQ: DKNG) and Bally’s Corporation (NYSE: BALY). When sports wagering is launched in Kansas, anyone of legal betting age within the geographical boundaries of Kansas can place bets directly from their mobile devices or computers by accessing a participating sports book or by visiting a lottery gaming facility.
Butler National is a recognized provider of professional management services in the gaming industry and leader in special mission aircraft modifications. As the Boot Hill Casino manager for the State, the new sports betting law provides that the Butler National subsidiary may, subject to regulatory approvals, contract with up to three sports wagering platform providers in addition to offering sports wagering at a retail sports book in the Boot Hill Casino facility located in Dodge City.
Butler National Acquires All Equity Interest of Boot Hill Casino Manager
OLATHE, KANSAS, October 20, 2021, – Butler National Corporation (OTCQB: BUKS) a recognized provider of professional management services in the gaming industry, announces its subsidiary, Butler National Service Corporation (BNSC) closed on the purchase of the minority equity ownership interest in BHCMC, LLC, (BHCMC) that results in BNSC being the sole owner of BHCMC, manager of the Boot Hill Casino & Resort.
BNSC purchased the 2,000 Class A Preferred Membership Units from BHC Investment Company, LC for approximately $16.4 million including an allocation for taxes. The Sale and Purchase of the Preferred Units in BHCMC, LLC makes BNSC the sole owner/member of BHCMC.
Butler National Lease Buy-Out Debt Transaction Completed
Butler National subsidiary BHCMC, LLC acquires Boot Hill Casino Real Estate with a $42 Million Debt Transaction
OLATHE, KANSAS, December 22, 2020, – Butler National Corporation (OTCQB: BUKS) a recognized provider of professional management services in the gaming industry, announces the completion of the acquisition of the Boot Hill and Resort Casino land and building by the exercise of its lease buy-out option.
BHCMC, LLC completed a $42 Million debt transaction to exercise an option to acquire the casino land and building for $41.25 million from BHC Development, L.C. The transaction consisted of two bank loans with Academy Bank, N.A. One note for $35 million collateralized by real estate in Dodge City with an interest rate of 5.25% payable over seven years with an initial twenty-year amortization and a balloon payment of approximately $19.25 million at the end of seven years. The second note for $7 million collateralized by real estate in Dodge City with an interest rate of 5.75% payable in full over five years. The balance of the two loans was used to pay financing related expenses and attorney fees.
Butler National Casino Management Contract 15-Year Renewal Approved
Kansas Lottery Signs Agreement for Amendment and Renewal of Lottery Gaming Facility Management Contract with Butler National Service Corporation and BHCMC for 15-Year Extension
Olathe, Kansas – Butler National Corporation (OTCQB: BUKS) a recognized provider of professional management services in the gaming industry, announces the Kansas Lottery has entered into a Renewal Agreement for the Lottery Gaming Facility Management Contract for the Boot Hill Casino with subsidiaries Butler National Service Corporation and BHCMC, LLC that includes a 15-year extension following the term of the current Management Contract. The new contract benefits the State of Kansas, Southwest Kansas and Butler National.
BNSC Exercises Purchase Option at the Boot Hill Casino & Resort
Olathe, Kansas – Butler National Corporation ($BUKS), a leading manufacturer and provider of support systems for commercial and military aircraft and a recognized provider of management services in diverse business groups including the gaming industry, announces that its subsidiary, Butler National Service Corporation (“BNSC”), delivered notice of the exercise of its option to purchase the building and related land in Dodge City, Kansas at the Boot Hill Casino & Resort.
$1.423 Million Jury Verdict Against Bally Gaming Announced
Olathe, Kansas – Butler National Corporation ($BUKS) (the “Company”) has been awarded total damages of $1,423,542 in litigation against Bally Gaming, Inc. based upon Bally’s negligent misrepresentations in selling a casino management computer system.