Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
(in thousands, except per share data)
| For the three months ended June 30, | |||||||||||||||
| Basic | Diluted (a) | ||||||||||||||
| 2012 | 2011 | 2012 | 2011 | ||||||||||||
| Average number of common shares outstanding | 62,536 | 61,933 | 62,536 | 61,933 | |||||||||||
| Average common shares due to assumed conversion of stock options | — | — | 365 | — | |||||||||||
| Total shares | 62,536 | 61,933 | 62,901 | 61,933 | |||||||||||
| Income (loss) from continuing operations, net | $ | 12,943 | $ | (4,873 | ) | $ | 12,943 | $ | (4,873 | ) | |||||
| Loss from discontinued operations, net | (985 | ) | (24,204 | ) | (985 | ) | (24,204 | ) | |||||||
| Net income (loss) | $ | 11,958 | $ | (29,077 | ) | $ | 11,958 | $ | (29,077 | ) | |||||
| Per share data: | |||||||||||||||
| Income (loss) from continuing operations, net | $ | 0.21 | $ | (0.08 | ) | $ | 0.21 | $ | (0.08 | ) | |||||
| Loss from discontinued operations, net | (0.02 | ) | (0.39 | ) | (0.02 | ) | (0.39 | ) | |||||||
| Net income (loss) per share | $ | 0.19 | $ | (0.47 | ) | $ | 0.19 | $ | (0.47 | ) | |||||
| For the six months ended June 30, | |||||||||||||||
| Basic | Diluted (a) | ||||||||||||||
| 2012 | 2011 | 2012 | 2011 | ||||||||||||
| Average number of common shares outstanding | 62,365 | 61,879 | 62,365 | 61,879 | |||||||||||
| Average common shares due to assumed conversion of stock options | — | — | 374 | 420 | |||||||||||
| Total shares | 62,365 | 61,879 | 62,739 | 62,299 | |||||||||||
| Income from continuing operations, net | $ | 12,617 | $ | 729 | $ | 12,617 | $ | 729 | |||||||
| Loss from discontinued operations, net | (1,668 | ) | (27,445 | ) | (1,668 | ) | (27,445 | ) | |||||||
| Net income (loss) | $ | 10,949 | $ | (26,716 | ) | $ | 10,949 | $ | (26,716 | ) | |||||
| Per share data: | |||||||||||||||
| Income from continuing operations, net | $ | 0.20 | $ | 0.01 | $ | 0.20 | $ | 0.01 | |||||||
| Loss from discontinued operations, net | (0.03 | ) | (0.45 | ) | (0.03 | ) | (0.44 | ) | |||||||
| Net income (loss) per share | $ | 0.17 | $ | (0.44 | ) | $ | 0.17 | $ | (0.43 | ) | |||||
| (a) | When the computed diluted values are antidilutive, the basic per share values are presented on the face of the unaudited Condensed Consolidated Statements of Operations. |