The AFL Tribunal on Tuesday evening upheld Houston's rough conduct charge, meaning the All Australian defender will sit out the rest of the season, even if Port make it all the way to the grand final.
He is also unlikely to return to Alberton next year, as he is reportedly considering leaving the Power at season's end to return to his native Victoria.
A remorseful Houston did not challenge the offence's classification as rough conduct, but sought to appeal the severity of the penalty.
"I regret my decision to bump Izak, and I'm very sorry for the injury my decision caused," he told the Tribunal.
"I never meant to hurt Izak, let alone concuss him.
"I don't know why I didn't tackle. In the past this has been my first instinct. I don't know why I decided to bump because I can't remember making that decision because it all happened so quickly."
Dan Houston has been referred directly to the tribunal for this incident involving Izak Rankine.— AFL (@AFL) Full Saturday Match Review findings: https://t.co/HrK8zy6iKI pic.twitter.com/OX8GLUQlaOAugust 18, 2024
Port's lawyer Ben Krupka argued a three-game suspension would be more appropriate given Houston had never been suspended across 168 AFL games and 18 SANFL games.
Krupka said he did not directly strike Rankine's head with his shoulder, rather Rankine's concussion was a result of either the contrecoup effect of whiplash or the secondary impact when his head hit the ground.
But Lisa Hannon KC, representing the AFL, argued Houston did in fact make contact with the top of Rankine's shoulder and neck.
Additionally, club medical records showed Rankine suffered an injury to his shoulder's AC joint as a result of the bump, as well as a concussion.
The Tribunal sided with Hannon, even though it acknowledged Houston's clean rap sheet.
Chair Jeff Gleeson KC said Houston had a duty of care not to tackle Rankine in a way that would result in an offence of rough conduct.
"Houston breached that duty of care, and his breach was significant," he said.
"The carelessness was significant, the impact was severe, and the consequences for Rankine were evident."
Houston's knockout blow on Rankine sparked a melee between Port and Crows players. (Matt Turner/AAP PHOTOS)
In his statement, an emotional Houston apologised to Rankine.
"I like to think that I'm a fair player and I have never been suspended before," he said.
"I've been an AFL player for nine years. I have played in many finals but never in a grand final. Losing the opportunity to play in a grand final would be crushing to me."
Earlier on Tuesday, Power teammate Ollie Wines said Houston would be a huge loss for the team.
"Dan is in no way a dirty player or someone who would do that on purpose," Wines told reporters.
"And I know he's reached out to Izak and we hope Izak's feeling better and getting through it."
Port hold second spot on the ladder entering their last home-and-away fixture, away to Fremantle, before the finals.
Meanwhile, GWS defender Lachie Ash was unsuccessful in appealing his rough conduct charge for a tackle on Fremantle's Hayden Young in Tuesday's first tribunal hearing.
Ash denied using excessive force in the tackle but agreed with the AFL's lawyer, Sally Flynn, that he swung Young to the ground.
Giants lawyer Anais d'Arville argued although Ash had pinned Young's right arm, the Dockers midfielder could have braced his fall with his left arm but chose not to.
The one-game ban rules Ash out of GWS' final-round clash with the Bulldogs on Sunday.
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