If any group or organization subject to the levy imposed by this Division fails to remit such levy within the time prescribed by Section 10-272, there shall be added to such levy by the Director of Finance interest at the rate of two-thirds (2/3) of one percent (1%) per month or fraction thereof and penalty at the rate of one percent (1%) per month, or fraction thereof until paid. Any group or organization subject to the levy imposed by this Division which fails to remit such levy within the time prescribed by Section 10-272, shall have its permit to conduct a casino night suspended until the Director of Finance receives payment of the amount of the delinquent levy and any interest and/or penalty due.