No licensee or permittee shall have a vested right in any license or permit issued hereunder, and permits issued hereunder may be revoked by the Council at any time. Licenses and permits shall be
revoked upon a showing that the licensee or permittee violated or caused to be violated, any provisions of this section, or of state law regulating the licensing or conduct of lawful gambling. The license or permit shall also be revoked in the event of any misrepresentation in the license or permit application or any reports required of the licensee or permittee to be made.
(’77 Code, § 509.02)