Butler National Corp is a diversified operating company with two main businesses: aerospace products and gaming-related professional services. In aerospace, it designs, engineers, manufactures, installs, repairs, and services aircraft modifications, avionics, structural components, and defense-related systems, with a focus on special mission and STC-approved upgrades. In gaming, it manages the Boot Hill Casino and Resort in Dodge City, Kansas, including traditional casino operations and sports wagering through a DraftKings-branded sportsbook. The company was incorporated in 1960 and operates as a holding company that allocates capital across these businesses while pursuing new aircraft modifications and income streams.
36,1 %
22,4 %
+16,7 %
2.14
1.72
| % | |
|---|---|
| Aerospace Products | 60% Design, engineering, manufacturing, installation, repair, overhaul, and distribution of aircraft structures, avionics, accessories, subassemblies, and special mission systems. |
| Professional Services | 40% Management of the Boot Hill Casino and Resort, including casino gaming, dining, entertainment, and sportsbook operations in Kansas. |
The aerospace business sells to aircraft owners, operators, and contractors across private, commercial, business, and...
Buy special mission electronics, gun control units, and aircraft upgrades for military and government aircraft operations.
Buy avionics installations, structural modifications, and repair/overhaul services to improve aircraft capability and compliance.
Buy products and services tailored to Learjet, Beechcraft King Air, and Textron Cessna turboprop fleets.
Visit Boot Hill Casino and Resort for gaming, dining, entertainment, and online/mobile sports wagering.
Buy defense-related articles and systems used in military and special mission applications.
Butler National is headquartered in the United States and its operations are primarily U.S...
Management is focused on growing long-term shareholder value through higher cash generation, earnings growth, and...
New approvals and modifications can open higher-value aircraft retrofit work and reduce reliance on a few customers.
Gaming revenue depends on patron traffic and sportsbook adoption, so improving the entertainment offering supports recurring cash flow.
The company is capital intensive and uses debt, working capital, and capex to support growth and acquisitions.
Butler National faces meaningful customer concentration risk in aerospace, where a small number of customers account...
A small number of customers represent a large share of revenue and receivables, so the loss of one account could materially reduce sales and cash collection.
Aerospace demand is tied to defense and government aircraft spending, which can change with budgets and policy priorities.
Boot Hill operates under Kansas law and a management contract, so changes in state rules or patron traffic directly affect revenue.
A breach or system failure could interrupt operations, create compliance issues, and lead to remediation costs or reputational damage.
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: 11/08/2026