The Collaborative International Dictionary of English v.0.48:

Dissipated \Dis"si*pa`ted\ (d[i^]s"s[i^]*p[=a]`t[e^]d), a.
   1. Squandered; scattered. "Dissipated wealth." --Johnson.
      [1913 Webster]

   2. Wasteful of health, money, etc., in the pursuit of
      pleasure; dissolute; intemperate.
      [1913 Webster]

            A life irregular and dissipated.      --Johnson.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

dissipate \dis"si*pate\ (d[i^]s"s[i^]*p[=a]t), v. t. [imp. & p.
   p. Dissipated; p. pr. & vb. n. Dissipating.] [L.
   dissipatus, p. p. of dissipare; dis- + an obsolete verb
   sipare, supare. to throw.]
   1. To scatter completely; to disperse and cause to disappear;
      -- used esp. of the dispersion of things that can never
      again be collected or restored.
      [1913 Webster]

            Dissipated those foggy mists of error. --Selden.
      [1913 Webster]

            I soon dissipated his fears.          --Cook.
      [1913 Webster]

            The extreme tendency of civilization is to dissipate
            all intellectual energy.              --Hazlitt.
      [1913 Webster]

   2. To destroy by wasteful extravagance or lavish use; to
      squander.
      [1913 Webster]

            The vast wealth . . . was in three years dissipated.
                                                  --Bp. Burnet.

   Syn: To disperse; scatter; dispel; spend; squander; waste;
        consume; lavish.
        [1913 Webster]

WordNet (r) 3.0 (2006):

dissipated
    adj 1: unrestrained by convention or morality; "Congreve draws a
           debauched aristocratic society"; "deplorably dissipated
           and degraded"; "riotous living"; "fast women" [syn:
           debauched, degenerate, degraded, dissipated,
           dissolute, libertine, profligate, riotous,
           fast]
    2: preoccupied with the pursuit of pleasure and especially games
       of chance; "led a dissipated life"; "a betting man"; "a card-
       playing son of a bitch"; "a gambling fool"; "sporting gents
       and their ladies" [syn: dissipated, betting, card-
       playing, sporting]

Moby Thesaurus II by Grady Ward, 1.0:

93 Moby Thesaurus words for "dissipated":
   abandoned, abated, ablated, attenuated, bated, belittled,
   broadcast, burnt up, by the board, consumed, contracted, curtailed,
   debauched, decreased, deflated, depleted, diffuse, diminished,
   discrete, dispersed, dispread, disseminated, dissolute,
   distributed, down the drain, drained, dropped, eaten up, effete,
   eroded, exhausted, expended, fallen, fast, finished, forfeit,
   forfeited, free, free-living, gallant, gay, gone, gone to waste,
   high-living, impoverished, irretrievable, less, lesser, licentious,
   long-lost, lost, lost to, lower, lowered, miniaturized, misspent,
   out the window, profligate, rakehell, rakehellish, rakehelly,
   rakish, reduced, retrenched, riotous, run to seed, scaled-down,
   scattered, shorn, shorter, shrunk, shrunken, smaller, sparse,
   spent, sporadic, spread, squandered, straggling, straggly, strewn,
   strown, unbridled, used, used up, wasted, watered-down, weakened,
   widespread, wild, worn, worn away, worn-out