Pinnacle Entertainment (PNKZV) 10-K/A 2011 FY Annual report (amended)

Exhibit 11

Pinnacle Entertainment, Inc.

Computation of Earnings Per Share

	For the years ended December 31,
	Basic									Diluted (a)
	2011			2010			2009			2011			2010			2009
	(in thousands, except per share data)
Average number of common shares outstanding	61,989			60,872			60,056			61,989			60,872			60,056
Average common share due to assumed conversion of share-based awards	—			—			—			478			—			—
Total shares	61,989			60,872			60,056			62,467			60,872			60,056
Income (loss) from continuing operations, net	$	30,196		$	(40,841	)	$	(63,051	)	$	30,196		$	(40,841	)	$	(63,051	)
Income (loss) from discontinued operations, net of income taxes	(32,735		)	17,422			(195,251		)	(32,735		)	17,422			(195,251		)
Net loss	$	(2,539	)	$	(23,419	)	$	(258,302	)	$	(2,539	)	$	(23,419	)	$	(258,302	)
Per share data:
Income (loss) from continuing operations	$	0.49		$	(0.67	)	$	(1.05	)	$	0.48		$	(0.67	)	$	(1.05	)
Income (loss) from discontinued operations, net of income taxes	(0.53		)	0.29			(3.25		)	(0.52		)	0.29			(3.25		)
Net loss per share	$	(0.04	)	$	(0.38	)	$	(4.30	)	$	(0.04	)	$	(0.38	)	$	(4.30	)

(a) When the computed diluted values are antidilutive, the basic per share values are presented on the face of the audited Consolidated Statements of Operations.