Thanks Clueless;
I do appreciate your answers. First off I will admit that I made a mistake when I implied using “will your company”. I know that is wrong. It should have been, the company that you support. Sorry about that.
One thing that I do not understand, you stated, “As far as I know, Butler National owns 100% of all assets that are involved with the casino proposal”.
If that is the case, How do we have Local People involved. Will Butler, construct the Casino plus operate the same? Was this term, Local People used to get the Casino off the ground?
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Butler National's Contract To Manage Casino Approved and Forwarded by Kansas
Lottery Commission to Lottery Gaming Facility Review Board
OLATHE, Kan., May 28 /PRNewswire-FirstCall/ -- Butler National Corporation
(OTC Bulletin Board: BUKS) announces its wholly owned subsidiary, Butler
National Service Corporation, a recognized provider of professional management
services in the gaming industry, received approval from the Kansas Lottery
Commission of its management proposal and contract for the Southwest Gaming
Zone. The Lottery Commission directed the Executive Director of the Kansas
Lottery, on behalf of the State of Kansas, to forward the Management Contract
with Butler National Service Corporation to the Lottery Gaming Facility Review
Board.
Butler National is one of two applicants proposing to manage the Ford
County/Southwest Gaming Zone Casino forwarded to the Review Board. The
Contract does not become effective until approved by the Lottery Gaming
Facility Review Board and the Kansas Racing and Gaming Commission. This
approval could be in December 2008.
The Boot Hill Casino and Resort plan is to have 800 slot machines and 20
table games. The plan includes a 124-room luxury hotel, a spa, restaurants,
and a 500 seat conference center/entertainment venue implemented in a phased
approach. The estimated project cost is $92.9 million.
The estimated average net machine income per day is $180. The estimated
average net table income per unit per day is $671. The State of Kansas will
receive 27% of the gaming revenue with additional incentives based on casino
performance.
"We are excited to move to the next step in this process. The Lottery
Gaming Facility Review Board must now make important decisions for the future
of Kansas. We are convinced that 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 understand the needs of western
Kansas. As the destination casino manager, we will best serve the interests
of Dodge City, Wild West Country and the state of Kansas," commented Clark D.
Stewart, President and CEO.
Our Business:
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:
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There is no assurance that Butler National will be awarded a contract to
manage a state-owned facility. Kansas Senate Bill 66 provides for a fairly
complex applicant review and selection process. Butler National plans to use
its best efforts to acquire rights to manage a gaming facility on behalf of
the State of Kansas.
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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 Kansas to the Lottery
Gaming Facility Review Board. Information about the contracts approved by the
Lottery Commission is available on the Kansas Lottery internet site under the
respective gaming zones at
Kansas Lottery Redirect Page.
FOR MORE INFORMATION CONTACT:
Craig D. Stewart, Investor Relations Phone: (214) 498-7775
Butler National Corporation Phone: (913) 780-9595
19920 W. 161st Street Fax: (913) 780-5088
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:
Butler National Corporation Home Page
SOURCE Butler National Corporation
Craig D. Stewart, Investor Relations, Butler National Corporation,
+1-214-498-7775, +1-913-780-9595, Fax, +1-913-780-5088; or Jim Drewitz, Public
Relations, Creative Options Communications, +1-830-669-2466,
jim@jdcreativeoptions.com