A Florida developer buying Atlantic City's former Revel Casino out of bankruptcy plans to open a water park there.

NBC 40

The owner told reporters during a break in a court hearing Thursday he plans high-speed ferry service between the site and New York City.

He told The Press of Atlantic City on Tuesday he plans to use at least part of the property as a casino. No timetable has been given for it to re-open.

Revel closed Sept. 2 after little more than two years of operation, never having turned a profit.