The Commission may deny a license if the Commission: Does not approve of the information submitted in Phase I or II of the application procedure; Determines that: There has not been compliance with the time schedule submitted by the applicant under Regulation .06 of this chapter; Construction was not completed in accordance with the plans approved by the Commission; The operational plans of the applicant were not ready to be implemented; The facility is not capable of conducting live racing; or The applicant will not conduct live racing on the dates requested from the Commission; or Determines that the applicant: Has not complied with all applicable laws, regulations, and ordinances, including those provisions regarding: Zoning, Health, and Alcoholic beverages; Has violated a law or regulation related to horse racing; Has been convicted of a crime related to illegal gambling; Has been convicted of a felony or a crime of moral turpitude that is reasonably related to the applicant's fitness to hold a racetrack license; Is not of good moral character; Has engaged in any act that is detrimental to the best interest of racing; Has failed to implement plans presented to the Commission; Has failed to comply with promises made, to the Commission; or Has failed to comply with any provision of this chapter. In addition to other reasons, the Commission may suspend or revoke its approval of an applicant if the Commission determines that the applicant: Provided false information in the license application; or Failed to fully disclose the true owners of all interests, beneficial or otherwise, in a proposed racetrack facility.