Butler National Corp (OTC: BUKS)

Butler National Corporation designs engineers manufactures sells integrates installs repairs modifies overhauls services and distributes a broad portfolio of aerostructures aircraft components avionics accessories subassemblies and systems and also provides management services in the gaming industry including ownership of the land and building for the Boot Hill Casino and Resort in Dodge City Kansas.

The company generates revenue primarily from the Aerospace Products segment through design engineering manufacturing sale distribution integration installation repair modification overhaul and service of aerostructures avionics aircraft components accessories subassemblies and systems and from the Professional Services segment through management of gaming and related dining and entertainment facilities including the operation of the Boot Hill Casino and Resort with its slot machines table games restaurant and sportsbook and through sports wagering arrangements.

The company operates through the following segments: Aerospace Products and Professional Services.

• The Aerospace Products segment focuses on the design manufacture sale and service of structural modifications design integration and installation of electronic equipment systems and technologies that enhance aircraft operations design manufacture and sale of defense related articles and operation of FAA approved repair stations serving Learjet Textron Beechcraft King Air and Textron Cessna turboprop aircraft.

• The Professional Services segment manages the Boot Hill Casino and Resort in Dodge City Kansas which features approximately five hundred slot machines fifteen table games a restaurant and a sportsbook under a management agreement with the Kansas Lottery and provides sports wagering via a provider contract with DraftKings.

Within the aerospace industry Butler National Corporation competes against peer companies divisions of larger original equipment manufacturers smaller independent integrators and government contractors with competition based on technical staffing quality turnaround time capacity price and the ability to retain skilled employees while in the gaming industry it faces competition from other casino facilities in Kansas and Oklahoma non gaming resorts entertainment venues state lotteries on track and off track wagering online sports betting platforms and other gaming alternatives.

The company serves a diverse customer base that includes owners and operators of private commercial business and government aircraft contractors involved with aircraft modifications commercial weapon manufacturers and suppliers to government agencies and patrons of the Boot Hill Casino and Resort including slot machine players table game participants restaurant guests and sports bettors.