Sun International has warned that its earnings per share for
the six month period, ending December 31, 2013, would be down around 20%.

Basic and headline earnings per share for the period are
expected to be between 18% and 22% lower than the 396 cents per share of the
previous corresponding period. Diluted adjusted headline earnings per share is
expected to be between 16% and 20% lower than the 408 cents per share of the
previous corresponding period.

The hospitality group is in the process of finalising its
unaudited interim results, which are expected to be released on February 24.

The gloomy outlook is a result of various factors, the group
said in a statement. The comparison of attributable earnings with the prior
year is further impacted by the additional depreciation charges from new
property openings (The Boardwalk and The Maslow hotels), The Maslow lease
expense and restructuring costs incurred to date.

In the second quarter, the group achieved revenue growth of
3,9%, up from 3,1% in the first quarter. Excluding Monticello Grand Casino,
which is still being impacted by the smoking ban in Chile, revenue for the half
year was up 6,6%. Encouragingly recent trading at Monticello has improved since
the opening of the smoking terraces.

The 9% decline in EBITDA for the first quarter has been
contained to 5% for the six months, through certain revenue-enhancing and cost-cutting
initiatives. Further restructuring is currently the focus of a recently
announced consultation process.