(a) Issuance.--

(1) In addition to any other criteria provided under this part, any terminal operator, truck stop establishment, supplier, manufacturer, gaming employee, key employee, principal or other person that the board approves as qualified to receive a license, permit or other authorization under this part shall be issued a license or permit upon the payment of a fee required in section 4101 (relating to fees) and upon the fulfillment of conditions required by the board or provided for in this part.

(2) Nothing contained in this part is intended or shall be construed to create an entitlement to a license, permit or other authorization by a person.

(b) Renewal.--

(1) All permits and licenses issued under this part unless otherwise provided shall be subject to renewal every five years.

(2) The application for renewal of a license or permit, unless otherwise provided, shall be submitted at least 180 days prior to the expiration of the permit or license and shall include an update of the information contained in the initial and any prior renewal applications and the payment of any renewal fee required by section 4101.

(3) Nothing in this subsection shall be construed to relieve a licensee or permittee of the affirmative duty to notify the board of a change relating to the status of its license or permit or to other information contained in the application materials on file with the board.

(c) Revocation or failure to renew.--

(1) In addition to other sanctions the board may impose under this part, the board may at its discretion suspend, revoke or deny renewal of a permit or license issued under this part if it receives information from any source that the applicant or any of its officers, directors, owners or key employees is in violation of any provision of this part, that the applicant has furnished the board with false or misleading information or that the information contained in the applicant's initial application or renewal application is no longer true and correct such that the applicant is no longer eligible.

(2) In the event of a revocation or failure to renew, the licensee's authorization to conduct the previously approved activity shall immediately cease the activity and all fees paid in connection with the license shall be deemed to be forfeited.

(3) In the event of a suspension, the applicant's authorization to conduct the previously approved activity shall immediately cease until the board has notified the applicant that the suspension is no longer in effect.

(d) Nontransferability of licenses.--

(1) A license issued by the board is a grant of the privilege to conduct a business in this Commonwealth.

(2) Except as permitted by section 3517 (relating to change in ownership or control of terminal operator licensee), no license granted or renewed pursuant to this part may be sold, transferred or assigned to another person.

(3) No licensee may pledge or otherwise grant a security interest in or lien on the license.

(4) The board has the sole discretion to issue, renew, condition or deny the issuance of a license based upon the requirements of this part.

(5) Nothing contained in this part is intended or shall be construed to create in any person an entitlement to a license.