If any corporation, partnership, limited partnership, limited liability company, or other business organization holding a license is owned or controlled by a private investment company subject to the provisions of this subpart, or that private investment company, does not comply with the laws of this state and rules of the Arkansas Racing Commission, the commission may in its discretion do any one (1), all, or a combination of the following:

1. (1) Revoke, limit, condition, or suspend the license of the licensee; or
2. (2) Fine the persons involved, the licensee, or the private investment company in accordance with the laws of this state and the rules of the commission.