Knight, the UKs No. 1 player, collected a check for $12,000. Bustamante took the runner-up check for $7,000.
Knight advanced to the finals by beating Jim Rempe, 7-5, in the semifinals.
Bustamante, the Germany-based Puyat Sports star, booked his berth in the final with Knight by cruising to a 7-2 victory over Ralf Souquet of Germany in the other semifinal match.
Bustamante won the leg and proceeded to win four racks on the run, with Souquet visiting the table just once. When Souquet did get his chances, he made errors and a brief comeback was thwarted when Bustamante took the score to 6-2.
Souquet had an opportunity to save the match as Bustamante made an uncharacteristic miss, but left the 4-ball in the clear and Django took full advantage to win the match, 7-2.
Commented Souquet: "After the first rack, I knew I wasnt going to win. Dont ask me how! Francisco hadnt been playing well throughout the tournament but tonight he played very well indeed."