Press Releases
FOR IMMEDIATE RELEASE
September 22, 2003
BUTLER NATIONAL CORPORATION APPROVED AS MANAGER AT
STABLES FOR AN ADDITIONAL FIVE YEARS
National Indian Gaming Commission Approves STABLES Contract
Extension With The Miami and Modoc Tribes
[Olathe, Kansas, September 22, 2003] - Butler
National Corporation (OTC Bulletin Board "BUKS"),
announces the Miami Tribe, Modoc Tribe and National Indian
Gaming Commission (NIGC) have approved the extension of the
management contract between the Miami Tribe, Modoc Tribe and
Butler National Service Corporation. The extension begins
October 1, 2003, for a second five-year term retaining Butler
National as manager of The Stables. The Stables opened for
business in September 1998.
The Indian Gaming Regulatory Act and the regulations of the
NIGC require the NIGC Chairman to approve changes to management
contracts for all gaming operations on Indian lands. The changes
to the management contract extended the contract term and
revised the distribution of net profits between the Miami
Tribe, Modoc Tribe and Butler National Service Corporation.
The Stables is a Class III gaming establishment in Miami,
Oklahoma, jointly owned by the Miami Tribe and the Modoc Tribe.
The Stables features all Class II games permitted under the
Indian Gaming Regulatory Act including high stakes bingo and
pull-tabs. The Stables is unique in that it has an approved
Class III gaming compact with the State of Oklahoma to offer
Off-Track-Betting on horse racing ("OTB''). Both the
OTB facility and the bingo operation feature state-of-the-art
electronics and games. The Stables draws many of its customers
from the local communities in Arkansas, Kansas, Missouri and
Oklahoma, tourists traveling Interstate 44, as well as many
tourists attending the Branson, Missouri attractions.
Clark Stewart, President and Chief Executive Officer of Butler
National Corporation said, "We are extremely pleased
to receive this contract extension. We have a great working
relationship with the tribes and the NIGC. This has been and
we fully expect will continue to be, a successful and profitable
relationship for the Miami, Modoc and Butler. We look forward
to challenges and outstanding growth opportunities that lie
ahead with Indian Gaming in Oklahoma and Kansas."
Our Business:
About Butler National Service Corporation
Butler National Service Corporation, a wholly owned subsidiary
of Butler National corporation, offers business management
services to Indian tribes in connection with the Indian Gaming
Regulatory Act of 1988.
About Butler National Corporation
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 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, Dessault and Raytheon business aircraft.
Services include electronic monitoring of water pumping stations,
temporary employee services, Indian gaming services and administrative
management services.
Forward-Looking Information:
The information set forth above may include "forward-looking"
information as outlined in the Private Securities Litigation
Reform Act of 1995. The Cautionary Statements, filed by the
Company as Exhibit 99 to the Company's Annual Report on Form
10-K, are incorporated herein by reference and investors are
specifically referred to such Cautionary Statements for discussion
of factors, which could affect the Company's operations, and
forward-looking statements contained herein.
FOR MORE INFORMATION CONTACT:
William A. Griffith, Investor Relations
Butler National Corporation
19920 W. 161st Street
Olathe, KS 66062
Ph: 913-780-9595
Fax: 913-780-5088
For more information, please visit the Company web site:
www.butlernational.com
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