A committee today heard from Sussex police about unacceptable drink promotions at the West street shot bar, as well as assaults and excessive drunkenness.
Sussex police submitted a request to the committee following two separate sales of alcohol to 17-year-olds. The request was supported by the council's licensing team, environmental protection officers and trading standards.
Head of licensing for Sussex police Jean Irving said: "The behaviour of the premises licence holder has been unacceptable and people have been harmed by his failure to take their obligations seriously.
"I have been involved in licensing for 13 years and during that time I have never seen such a consistently poorly run premises, whose focus seems only to make as much money as possible by selling as much alcohol as possible, regardless of the consequences and the harm caused."
Sergeant Ben Hearth, from Brighton and Hove licensing team, added: "I had met with the premises management on a number of occasions in an attempt to bring up their standards but our warnings and interventions were not heeded.
Oxygen will have 21 days to appeal the decision.
The shot bar previously got into hot water last year following an offer urging drinkers to buy 42 shots for £105, which police condemned as irresponsible.
Oxygen also gained notoriety among Brighton locals for its drink names, including the ‘clit-splitter’ and the ‘blowjob.’