GME was due to have taken place at the Business Design Centre in Islington on September 6th and 7th.
It launched last year, as a deliberately low-key and low-cost networking event for suppliers and retailers. Exhibitors included Nintendo, Ubisoft, Vivendi, Buena Vista and Codemasters.
But the weakening of appetitie for any traditional show concept in the UK, following a futile war between CMP's ECTS and ELSPA's own events in 2004, left a daunting task for GME organisers Tandem Events and Barrington Harvey - who had bravely tried to fill the September gap.
The GME cancellation also swiftly follows significant downsizing for the previously serene E3 trade event in Los Angeles.
"As industries evolve, so do the events that serve them," said a GME spokesman.
Tandem and BH will now take soundings from suppliers and retailers to see if a new event can be built for 2007 that reflects industry needs..