STOCK TITAN
  1. Home
  2. Sec-filings
  3. BUKS
  4. [8-K] BUTLER NATIONAL CORP Reports Material Event

Butler National (BUKS) extends Kansas betting deals to 2030

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Butler National Corporation (BUKS) reports that its subsidiaries BHCMC, LLC (Boot Hill Casino & Resort) and Butler National Service Corporation entered into a Renewal of the Lottery Sports Wagering Management Contract with the Kansas Lottery. The Renewal Contract grants a three-year extension of Boot Hill Casino’s management of sports wagering operations in Kansas commencing September 1, 2027, during which Butler National Service Corporation will receive 90% of all sports wagering revenue it generates, subject to modification by the Kansas Lottery to comply with future law.

In connection with this extension, Boot Hill Casino and DraftKings executed an amended and extended agreement for an additional ten-year term to facilitate online and mobile sports wagering, with updated commercial terms that reflect current market conditions. Together, these agreements are described as extending Boot Hill’s sports wagering management relationships with the Kansas Lottery and DraftKings through 2030, dependent on continuing Kansas Lottery sports wagering management authority.

Positive

  • None.

Negative

  • None.
Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Sports wagering revenue share 90% of all sports wagering revenue generated by BSNC Revenue share payable to Butler National Service Corporation under the Renewal Contract with the Kansas Lottery
Extension start date September 1, 2027 Commencement of three-year extension of Boot Hill Casino’s sports wagering management in Kansas
Lottery contract extension term Three-year extension Extension of the Lottery Sports Wagering Management Contract for Boot Hill Casino
DraftKings agreement term Ten-year term Amended and extended sports wagering arrangement with DraftKings for online and mobile wagering
Sports wagering management horizon Through 2030 Combined effect of Kansas Lottery and DraftKings extensions on Boot Hill’s sports wagering management
Electronic gaming machines Over 500 electronic gaming machines Gaming capacity at Boot Hill Casino & Resort
Table games 15 table games Table game count at Boot Hill Casino & Resort
Restaurant capacity 150-seat casual dining restaurant Capacity of Firesides at Boot Hill restaurant
Lottery Sports Wagering Management Contract regulatory
"received a three-year extension of its Lottery Sports Wagering Management Contract with the Kansas Lottery"
sports wagering financial
"Boot Hill Casino's management of sports wagering operations conducted through the Boot Hill Casino & Resort"
Sports wagering is the practice of placing money on the outcome of athletic events, where bettors stake funds in hopes of winning based on predicted results. For investors, it matters because it creates a recurring revenue stream for operators and platform providers, but also brings regulatory, legal and seasonal risks; think of it as buying a product whose sales can swing heavily with rules, public interest and the calendar of events.
online and mobile sports wagering financial
"arrangement, which facilitates online and mobile sports wagering"
forward-looking statements regulatory
"may constitute “forward-looking statements” within the meaning of Section 21E"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
lottery facility games regulatory
"The lottery facility games at Boot Hill Casino & Resort are owned and operated by the Kansas Lottery"

FAQ

How long is the new sports wagering management term for Boot Hill Casino under BUKS?
Boot Hill Casino obtained a three-year extension of its Lottery Sports Wagering Management Contract starting September 1, 2027. This maintains the material terms of the prior five-year contract and extends management of Kansas sports wagering operations conducted through Boot Hill Casino & Resort through 2030.

What revenue share will Butler National receive from sports wagering under the Renewal Contract?
Under the Renewal Contract, Butler National Service Corporation will be paid 90% of all sports wagering revenue it generates. This percentage may be modified by the Kansas Lottery as needed to comply with future legal requirements, so the revenue share is subject to potential adjustment over time.

What is the term of Butler National’s amended DraftKings agreement for BUKS?
Boot Hill Casino and DraftKings agreed to amend and extend their sports wagering arrangement for an additional ten-year term. The agreement facilitates online and mobile sports wagering, includes updated commercial terms reflecting current market conditions, and is subject to continuing Boot Hill Casino management authority under the Kansas Lottery agreement.

How do these agreements affect Boot Hill Casino’s sports wagering operations for BUKS?
The Kansas Lottery and DraftKings extensions together continue Boot Hill Casino’s sports wagering management through 2030. They cover both on-site sports wagering operations and online/mobile wagering, providing contractual continuity as long as the Kansas Lottery maintains Boot Hill’s sports wagering management authority under the Renewal Contract.

What are the key features of Boot Hill Casino & Resort operated by Butler National (BUKS)?
Boot Hill Casino & Resort features over 500 electronic gaming machines, 15 table games, a 150-seat Firesides restaurant, and a DraftKings Sportsbook. The Kansas Lottery owns and operates the lottery facility games, while the Kansas Racing and Gaming Commission provides regulatory oversight of the casino’s operations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Understanding 8-K Material Events →
false000001584700000158472026-08-172026-08-17

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 9508-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) August 17, 2026
BUTLER NATIONAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Kansas
(State or Other Jurisdiction of Incorporation)
0-1678
 (Commission File Number)
41-0834293
 (IRS Employer Identification No.)
One Aero Plaza, New Century, Kansas
 (Address of Principal Executive Offices)
66031
 (Zip Code)
913-780-9595
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
NoneNoneNone
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 1.01Entry into a Material Definitive Agreement
On August 17, 2026, Butler National Corporation (the “Company”) subsidiaries BHCMC, LLC (“Boot Hill Casino”), the manager of Boot Hill Casino & Resort, and Butler National Service Corporation (“BSNC”) entered into a Renewal of the Lottery Sports Wagering Management Contract (the “Renewal Contract”) with the Kansas Lottery. The Renewal Contract provides for a three-year extension of Boot Hill Casino’s management of sports wagering operations in Kansas commencing September 1, 2027, and that BSNC will be paid 90% of all of the sports wagering revenue generated by it, subject to modification by the Kansas Lottery as necessary to comply with future requirements of law.

The foregoing description of the Renewal Contract does not purport to be complete and is qualified in its entirety by reference to the full text of agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 8.01Other Events

On August 20, 2026 the Company issued a press release announcing the entry into an amended and extended agreement with DraftKings to facilitate online and mobile sports wagering for an additional ten year term. The DraftKings agreement is subject to continuing sports wagering management authority by the State of Kansas under the Renewal Contract.

Item 9.01Financial Statements and Exhibits
Exhibit 10.1
Renewal of Lottery Sports Wagering Management Contract, among the State of Kansas, BNSC and BHCMC effective August 17, 2026
Exhibit 99
Press Release announcing Sports Wagering Management Contract Extension
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
BUTLER NATIONAL CORPORATION
(Registrant)
August 20, 2026
Date
/s/ Adam B. Sefchick
Adam B. Sefchick
Interim Chief Executive Officer and President and Chief Financial Officer


BUTLER NATIONAL CORPORATION’S BOOT HILL CASINO & RESORT EXTENDS SPORTS WAGERING AGREEMENT WITH KANSAS LOTTERY AND DRAFTKINGS
Extension Continues Boot Hill's Sports Wagering Management Through 2030
New Century, Kansas (August 20, 2026) – Butler National Corporation (OTCQX: BUKS) announces that the Boot Hill Casino & Resort, managed by Butler National subsidiary BHCMC, LLC (“Boot Hill Casino”), executed two agreements extending existing sports wagering contract relationships 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 State of Kansas authorized Kansas Lottery-owned and operated sports wagering, which is managed by the state's lottery gaming facility managers. The initial sports wager management contract was a five-year agreement. The newly executed extension maintains the same material terms of the original agreement and extends Boot Hill's management of sports wagering through 2030.
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 Kansas and neighboring states. This extension provides long-term stability for our sports wagering platform and allows us to continue investing in the guest experience and sportsbook operations."
Deutsch added: "Boot Hill remains focused on driving tourism, entertainment, and economic activity in Southwest Kansas while generating meaningful revenue for the State of Kansas. We are proud of the role our property plays in supporting both objectives."
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.

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Press Releases

Agreements & Contracts

Other Documents