This LEGOLAND water park has more unique slides than other LEGOLAND water parks. It also looks like the hotel is done
The new water slides at LEGOLAND Malaysia
The new hotel
There are many things about the park in its current state. I hear you have to contact Cedar Fair to walk around the property. I don't see Cedar Fair selling the water park unless someone buys the entire land.
This is a photo I took on the zoom in option on my phone on Wildwater Kingdom's last day of operation for the 2013 season.
This would be a "better" scenario,
2014: Sidewinder (flat ride)
2015: Park operates as a water park only (ala Geauga Lake in Ohio)
2016: Liquidation of the theme park rides