(a) For a violation of this subchapter or a regulation issued pursuant to this subchapter, the Office shall have the authority to exercise one or more of the following:
(1) Impose a fine of not more than $50,000, which money shall be paid to the District of Columbia Treasurer and deposited into the General Fund of the District of Columbia as general purpose revenue funds;
(2) Revoke a licensee's sports wagering license; or
(3) Suspend the licensee's sports wagering license for up to 365 days.
(b) An individual, group of individuals, or entity that has been fined or whose application has been denied, revoked, or suspended pursuant to this section shall have a right to a hearing before the Office and, in the event of its affirmation of the fine, denial, revocation, or suspension, whichever applies, the right to appeal the decision of the Office to the Superior Court of the District of Columbia.