The ATP tour event slated to be held in Israel in September has been canceled because of the ongoing conflict between the host country and Hamas fighters.

In a statement, the organizers said it could not hold the Israel Open, an ATP World Tour event, in Tel Aviv since tensions in the region continued to escalate.

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The security of all the people involved in carrying out the tour remained the foremost priority of the organizers, according to a top official of ATP.

"We regret the ATP World Tour event in Tel Aviv, Israel, will not take place this year. Sadly, we do not feel we can proceed as planned given the situation in the region," said ATP executive chair and president Chris Kermode. "Ensuring the security of our players, fans and all those involved in organizing a world-class event, is our number one priority."

Sought for a reaction, Israel Tennis Association (ITA) chair Asaf Tochmeir expressed regret over the ATP's decision, saying his group laid all the groundwork to ensure the tournament would continue to push through.

"We at the ITA have done everything to ensure a successful ATP event takes place in Israel. We have raised sufficient funding and have taken care of all organizational requirements," Tochmeir said.

On Monday, both Israel and Palestine agreed to a 72-hour humanitarian ceasefire which had been proposed by Egypt. The pause is to allow aid workers to respond to the needs of civilians.

Estimates put around 2,000 the number of people killed in the nearly month-long conflict between Israel and Hamas fighters who control Gaza.

Kermode, for his part, did not discount the possibility of the tournament being held in Israel in the succeeding months.

"We hope to be back in Tel Aviv next year," he said. "In the meantime, and much more importantly, we hope for a swift return to peace in the region."