|TVG Technologies, a secure smart card crypto interfacing systems developer, has signed an agreement with Las Vegas-based online casino company SuperCasino to supply its SmartNet system. |
The value of the products to be supplied to SuperCasino, along with other customers in the deal who were not named, is estimated at $50 million.
SmartNet will be supplied with software applications for online casino with multi users. SmartNet's main features include very high security protocols developed by TVG to transfer money with a smart card over the Internet using a mobile device.
TVG and SuperCasino agreed to jointly build a new plant in Switzerland at the cost of $3 million to produce TVG's SmartNet product. The customers and TVG plan to finance the project through special Swiss government tax-free programs and bank loans.
In addition, TVG is planning to build a new facility for R&D and software house in the Har Hotzvim high- tech park in Jerusalem, Israel at a cost of $6 million. TVG plans to hire approximately 100 new workers for the development of new software and applications to support this deal and others.