"Now there are more tournaments than ever before competing for people's time and attention, so we're no longer in a position to commit the resources required to run another major independent event," IGN explained in its official statement. "You should also know that we are working on finding a new home for the IPL team and IGN will continue to broadcast partner tournaments in the future."
Full refunds for the event and for reservations made at IPL6's intended venue at The Cosmopolitan in Las Vegas are available. Those with non-refundable plane tickets still have someplace to go, but nothing to see. It's Vegas, we're sure there's something to do.
The cancellation follows a review of resources at IGN after its acquisition by Ziff Davis. The organization experienced layoffs a couple weeks ago.