The exciting prospect worked poorly at Newbury on Sunday and won't be ready in time for next week.
A winner of his first six starts under rules, the son of Vinnie Roe has long looked one of the most exciting novice chasers in training.
Despite meeting his first defeat in Grade 1 company last time, he'd been prominent in the betting for both the JLT and the RSA – but those plans have now been shelved.
Bailey said on his website: "We took Vinndication and Wandrin Star to Newbury early yesterday morning.
Sadly I was not happy with the way Vinndication went, so Cheltenham for him this year will be missed.
"(It is) so frustrating for all his owners. He is a still a weak and immature horse, and it is showing. There will be other big days for him."
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