The consortium behind the "Vega City" venture has intimated it may look elsewhere for a site after it failed to get planning permission for a theme park in north Dublin.
Fingal County Council last night voted to reject plans for a €7 billion theme park when an overwhelming majority of councillors - 19 to one - accepted advice from planning officials that the plans were unacceptable
Councillors described the proposal as "vague" and "sloppy" with the County Manager, Mr Willie Soffe, sayiong the plans lacked detail, credibility, and were unsustainable for the area and violated existing planning guidelines.
The consortium, United Entertainment Partners (UEP), had refused to reveal the identity of investors who, according to the group's managing director, Mr Louis Maguire, had already pledged up to €1.5 billion for the project.
After the vote, the chairman of UEP, Mr Owen O'Callaghan, said he was disappointed at the result and defended the lack of detail in the planning proposals.
The consortium is now reportedly looking at building the theme park in Britain instead.