The Atlantic Club Casino Hotel, which has sat unused since it closed almost two years ago, is back on the market after an ambitious attempt to turn the location into a massive waterpark has fallen through.

According to reports, the owner of the former Atlantic City gambling spot said real estate developer Endeavor has been unable to put together the funds to redevelop the property.

The Pennsylvania-based company’s proposed plans included a 81,000sq.ft indoor water park, an additional smaller water park near the boardwalk, a parking lot and a family entertainment centre. It would have also renovated the existing hotel and added dining options for city visitors.

The redevelopment came with an estimated price tag of more than $150m. The plan had received zoning and land use approval last year.