The 2020 edition of the World Pool Masters has been cancelled completely after initially being postponed.
Gibraltar was due to host the event between March 26 and 29 this year but this proved impossible due to the coronavirus pandemic.
Organisers hoped new dates could be found but have now admitted defeat with COVID-19 restrictions still in place around the world.
Emily Frazer, the managing director of organisers Matchroom Multi Sport, said: "Despite a recent surge in live sport, we still face a lot of uncertainty within the events industry.
"Pool is a worldwide mass-participation sport that does not get the credit it fully deserves.
"Our ongoing aim and passion at Matchroom Pool is to drive and propel the sport to the next level of professional exposure it has never reached.
"Due to the recent difficulties of COVID-19 and the challenges it has presented, it is important we look at the bigger picture and establish what is best for the event and the players.
"Broadcaster schedules are packed with live sport, international travel is a roadblock and live spectatorship is an ongoing unknown factor.
"It is a first for us to cancel an event and not a decision made easily, however for the future of the World Pool Masters and to maintain the changes implemented in recent years to evolve the event, we must ensure we put on a great show that is competitive, available and enjoyable to our viewers at home as well as our live spectators."
Gibraltar will now host the 2021 edition of the World Pool Masters between March 25 and 28.
The nine-ball tournament is one of the sport's biggest prizes and has been held in the territory since 2017.