The Corinthian, part of leisure entrepreneur Stefan King's G1 Group, has had three hours axed from its booze licence.
Licensing chiefs have ruled the venue's alcohol licence will stop at 3am instead of the current 6am.
During the meeting, Police Scotland argued the A-listed venue's licence should be reviewed as it had breached conditions on preventing crime and disorder and securing public safety.
A string of alleged incidents, going back at least a year, were raised at the meeting, including, according to the police, the rape of a "highly intoxicated" woman last month.
Police said at about 3.15am on Sunday, March 2 - after spending more than four hours in The Corinthian - the woman was seen "slouching in a chair and vomiting".
Almost half an hour later, the woman and her friend were escorted off the premises.
However, a taxi refused to take the pair home due to the drunk woman's "intoxication level".
Police told the meeting that the woman was later raped by a stranger as she lay drunk at home.
A 22-year-old man appeared at Glasgow Sheriff Court on Tuesday, March 4 in connection with the incident.
A Licensing Board spokesman said: "The Board unanimously agreed that the grounds for reviewing the licence had been established and ruled that it will be varied from Monday, April 14.
"The core hours will be between 11am and 3am Monday to Saturday and between 12.30pm and 3am on Sundays.
"Alcohol may only be served beyond those hours for pre-booked gaming functions, held in the gaming rooms two to five on the upper floors of the premises, until 6am.
The Board also ruled that, after midnight, drinks must be served in toughened glasses.
Police Scotland called for a review of The Corinthian's liquor licence after attending more than 220 incidents at the Ingram Street premises in a year.
However, lawyers for The Corinthian claimed that was a "gross exaggeration".
Since February 2013, 29 people have been arrested at the city centre venue for a variety of offences, including serious assault and breach of the peace.
A large number of the alleged incidents took place between 3am and 6am when The Corinthian operates as a casino.