It usually means a woman who is rather free with her sexual favours. In what context did you see the phrase? In future, please give us complete sentences to consider.
When I checked the meaning of "wet party", [STRIKE]A[/STRIKE] the definition was shown as: [STRIKE]follows:[/STRIKE]
A social atmosphere in which alcohol and "loose" women are served for everyone's enjoyment.
That's why I was asking what "loose woman" means. [STRIKE]does it mean of loose women.[/STRIKE]