Village Roadshow has taken a majority stake in a $US32 million ($A31.39 million) Las Vegas water park currently under construction.

Village Roadshow has taken a 51 per cent in the park, which will be given the Wet’n’Wild brand, with an investment of $US12 million ($A11.77 million).

The other 49 per cent interest in the project is held by a group of prominent investors, including former tennis stars Andre Agassi and Steffi Graff.

The water park is set on 41 acres in southwest Las Vegas, and will feature 25 slides and has the potential to entertain more than 650,000 visitors a year.

Village Roadshow operates several Gold Coast theme parks, including Sea World and Warner Bros Movie World.