THE $1.5 million Pebble Beach Pro-Am PGA Tour event was cancelled yesterday after continuing rain flooded the 16th hole at Spyglass Hill and delayed the final round. Rain had washed out play on Saturday, but officials had hoped to play a third and final round yesterday.

Because the event is played at three courses - Pebble Beach, Spyglass Hill and Poppy Hills - three rounds must be played so that each golfer will play each course once. Therefore, no winner was declared and each participant will receive $5,000, which will not count on the Tour money list.