The following shall apply:
(1) A sports wagering certificate shall be in effect unless:
(i) suspended or revoked by the board consistent with the requirements of this part;
(ii) the slot machine license held by the sports wagering certificate holder is suspended, revoked or not renewed by the board consistent with the requirements of this part; or
(iii) the sports wagering certificate holder relinquishes or does not seek renewal of its slot machine license.
(2) A sports wagering certificate holder that fails to abide by this chapter or any condition contained in the slot machine licensee's statement of conditions governing the conduct of sports wagering shall be subject to board-imposed administrative sanctions or other penalties authorized under this part.