The executive chairman of Scientific Games’ UK subsidiary SG Gaming Steve Frater is to retire from the business, with group managing director Phil Horne promoted to the position of chief executive as his replacement.

Frater has spent more than thirty years in the betting and gaming sector and is described as having been instrumental in pioneering the introduction of gaming machines to the licensed betting office sector. He was co-founder of Global Draw, one of the two subsidiaries that make up SG Gaming alongside Barcrest Group.

He has served as executive chairman of SG Gaming for the past five years, and will step down from his role on March 31st.

“My career has been an incredible journey, and I leave behind at SG Gaming a fantastic team, as well as a thriving strong business,” Frater said of his retirement. “It has been our long-term plan for Phil to succeed me on my departure and now is the perfect time to do so.

“I am confident that SG Gaming will continue to go from strength to strength under his leadership.”

Horne, his replacement, joined SG Gaming in March 2013, having previously served as gaming director of Gala Coral between 1996 and 2008. He will take on his new role upon Frater’s departure, reporting to Scientific Games’ group chief executive of gaming Derik Mooberry.

“It has been a privilege working with Steve. He is truly an industry innovator and will be greatly missed at SG Gaming,” Horne said of the outgoing executive chairman. “We thank him for his leadership, vision and his hard work to drive the business to where it is today.

“I am very proud to now be leading SG Gaming through to the next phase of growth and ensuring our customers continue to benefit from one of the industry’s leading gaming solutions package,” he added.

Shares in Scientific Games Corporation (Co. Data) (NASDAQ:SGMS) closed at $4.95 per share in New York Wednesday.