Saturday night's planned mixed martial arts (MMA) event - On Top 7 - was scheduled for the Hilton hotel, with 850 fans in attendance and fighters jetting in from as far away as France and Poland.
Organisers, On Top Promotions, said they were forced to pull the plug last night after the Hilton told them police had objected to the event going ahead.
On Top's last event, planned for Bella- houston Leisure Centre in February last year, was also called off on police advice.
A Police Scotland spokeswoman said: Police Scotland: "The Hilton have cancelled this event (On Top 7) following discussions with police regarding the venue's lack of an appropriate operating licence."
Nobody from the Hilton was available to comment.