BUTLER NATIONAL CORPORATION'S BOOT HILL CASINO & RESORT EXTENDS SPORTS WAGERING AGREEMENT WITH KANSAS LOTTERY AND DRAFTKINGS
Rhea-AI Summary
Butler National (OTCQX: BUKS) announced that its subsidiary BHCMC, LLC, which manages Boot Hill Casino & Resort, has executed two agreements that extend its existing sports wagering relationships through 2030.
Boot Hill Casino received a three-year extension of its Lottery Sports Wagering Management Contract with the Kansas Lottery, maintaining the original material terms and continuing management of lottery-owned sports wagering at the property through 2030. In connection with this, Boot Hill Casino and DraftKings agreed to amend and extend their online and mobile sports wagering arrangement for ten years, with updated commercial terms reflecting current market conditions. The DraftKings agreement remains subject to Boot Hill Casino’s continuing management authority under the Kansas Lottery agreement.
Positive
- Sports wagering management extended for Boot Hill Casino through 2030 under Kansas Lottery contract
- Ten-year extension of DraftKings online and mobile sports wagering arrangement with Boot Hill Casino
- Long-term stability for Boot Hill’s sports wagering platform, supporting continued investment in guest experience and sportsbook operations
Negative
- DraftKings sports wagering agreement is conditional on Boot Hill’s continuing management authority under the Kansas Lottery contract
- Extension agreements disclose no specific financial terms, limiting visibility into direct revenue or margin impact for investors
AI-generated analysis. How Rhea-AI works. Not financial advice.
Extension Continues Boot Hill's Sports Wagering Management Through 2030
Butler National received a three-year extension of its Lottery Sports Wagering Management Contract with the Kansas Lottery, which provides for Boot Hill Casino's management of sports wagering operations conducted through the Boot Hill Casino & Resort. In 2022, the
In connection with the Kansas Lottery contract extension, Boot Hill Casino and DraftKings have agreed to amend and extend for ten years their sports wagering arrangement, which facilitates online and mobile sports wagering. The extension includes updated commercial terms that reflect current market conditions. The DraftKings agreement is subject to continuing Boot Hill Casino management authority under the agreement with the Kansas Lottery.
Ryan Deutsch, General Manager of Boot Hill Casino & Resort, commented: "We appreciate the Kansas Lottery's continued confidence in Boot Hill Casino & Resort. We are also very pleased to extend our successful relationship with DraftKings. Sports wagering has become an important component of our entertainment offering and continues to attract visitors from across
Deutsch added: "Boot Hill remains focused on driving tourism, entertainment, and economic activity in
About Boot Hill Casino & Resort
Boot Hill Casino & Resort, managed by BHCMC, LLC and Butler National Service Corporation, wholly-owned subsidiaries of Butler National Corporation (OTCQX: BUKS), features over 500 electronic gaming machines, 15 table games, a 150-seat casual dining restaurant known as Firesides at Boot Hill, and an attractive DraftKings Sportsbook.
The lottery facility games at Boot Hill Casino & Resort are owned and operated by the Kansas Lottery. The Kansas Racing and Gaming Commission provides regulatory oversight for the casino.
About Butler National Corporation
Butler National Corporation operates in the Aerospace and Professional Services business segments. The Professional Services business segment includes the operations at the Boot Hill Casino & Resort. The Aerospace Products segment includes the design, manufacture, sale and service of structural modifications, design, integration and installation of electronic equipment, systems and technologies that enhance aircraft operations, and the design, manufacture and sale of defense related articles. Additionally, we operate FAA Repair Stations. Companies in Aerospace Products concentrate on products and services for Learjet, Textron Beechcraft, King Air, and Textron Cessna turboprop aircraft. Butler National-Tempe designs and manufactures robust electronic controls and cabling.
Forward-Looking Information
Statements made in this press release, reports, and proxy statements filed with the Securities and Exchange Commission, communications to stockholders and oral statements made by representatives of the Company that are not historical in nature, or that state the Company or management intentions, hopes, beliefs, expectations or predictions of the future, may constitute "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements can often be identified by the use of forward-looking terminology, such as "could," "should," "will," "intended," "continue," "believe," "may," "expect," "anticipate," "goal," "forecast," "plan," "guidance" or "estimate" or the negative of these words, variations thereof or similar expressions. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are not guarantees of future performance or results. They involve risks, uncertainties, and assumptions. It is important to note that any such performance and actual results, financial condition or business, could differ materially from those expressed in such forward-looking statements. Factors that could cause or contribute to such differences, many of which are outside of our control, include, but are not limited to: (i) customer concentration risk; (ii) dependence on government spending; (iii) government shutdown; (iv) industry specific business cycles; (v) regulatory hurdles in the launch of new products; (vi) loss of key personnel, including executive officers; (vii) the geographic location of our casino; (viii) fixed-price contracts; (ix) international sales; (x) changing U.S. trade policy and impacts of tariffs; (xi) need to acquire hangar space for substantial growth; (xii) future acquisitions; (xiii) supply chain and labor issues; (xiv) customer demand; (xv) insurance costs and insufficient insurance for aircraft modifications; (xvi) cyber security threats; (xvii) fraud, theft and cheating at our casino; (xviii) dependence on third-party platforms to offer sports wagering; (xix) outside factors influence the profitability of sports wagering and legacy gaming; (xx) change of control restrictions; (xxi) significant and expensive governmental regulation across our industries; (xxii) U.S. Government action with respect to contracts; (xxiii) failure by the Company or its stockholders to maintain applicable gaming licenses; (xxiv) evolving political and legislative initiatives in gaming; (xxv) extensive and increasing taxation of gaming revenues; (xxvi) changes in regulations of financial reporting; (xxvii) the availability of financing; (xxviii) potential impairment losses; (xxix) marketability restrictions of our common stock; (xxx) the possibility of a reverse-stock split; (xxxi) market competition by larger competitors; (xxxii) acts of terrorism and war; (xxxiii) climate change, inclement weather and natural disasters; (xxxiv) rising inflation; (xxxv) failure of risk management; (xxxvi) effectiveness of internal controls; and (xxxvii) other factors discussed in Item 1A of the Company's Annual Report on Form 10-K and other filings the Company makes with the SEC from time to time. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial condition or business over time, except as expressly required by federal securities laws.
For more information, contact:
Butler National Corporation Investor Relations
(913) 780-9595
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SOURCE Boot Hill Casino & Resort