The centre in Portrush opened in 1993 and promised to provide family entertainment during wet weather between April and September.
It was once described as "an integral part of the Portrush tourism offering" but after making a £187,000 loss last year, Coleraine Borough Council revealed this summer will be the last for the attraction.
It said the attractions inside - including a simulator, laser quest, adventure playground and viewing tower - had become "somewhat dated" and admitted the Dunluce Centre has struggled in the face of competition.
"Over the past number of years this has resulted in declining footfall and revenue, and without significant investment to update the facilities, this will continue," said the council.
The centre is mostly manned by part-time seasonal staff, and a council spokesperson said three staff are likely to fill "other vacancies".
A new tenant is now being sought for the building close to Portrush town centre and the council will work with the private and voluntary sector to replace the services offered at the complex.
"As other recent initiatives have demonstrated, council remains fully focused on the regeneration of Portrush as a central pillar of the tourism strategy for the North Coast," a statement added.
There were mixed comments from visitors to the Dunluce Centre on review site TripAdvisor. Some described it as "disappointing", "needing help", and "awful", although others said it was "good on a wet day" and commended the friendly staff.
The centre will shut for good in mid September 2013.