WPT Enterprises Inc., the parent company of the World Poker Tour, is selling all of its assets, including its television library, to Gamynia Ltd. for $9.075 million.

Under the deal, Los Angeles-based WPT (NASDAQ: WPTE) will also receive a percentage of future revenues brought in by Gamynia from the World Poker Tour and Professional Poker Tour brands.

WPT will retain cash, investments and certain excluded assets and will use the funds from the sale to "develop or acquire a non-poker related business" and will not distribute any proceeds to shareholders.

Gamynia will continue the operations of the World Poker Tour and Professional Poker Tour brands and will continue to operate all of the company’s units.

Gamynia has also enlisted online gaming marketing company Hardway Investments Ltd. to "exploit and develop the WPT brands with the goal of maximizing future revenue opportunities."

The deal is slated to close by year's end, pending the approval of WPT shareholders.