Yes, BOURBON is a Scrabble word!

Letter values in Scrabble US: B 3, O 1, U 1, R 1, B 3, O 1, N 1.

Is it a valid word?

BOURBON is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a reactionary politician in the United States (usually from the South)
whiskey distilled from a mash of corn and malt and rye and aged in charred oak barrels
a member of the European royal family that ruled France
a European royal line that ruled in France (from 1589-1793) and Spain and Naples and Sicily

Also: bourbon dynasty.