Pinnacle Entertainment (PNKZV) 10-Q 2003 Q2 Quarterly report

Exhibit 11

PinnacleEntertainment, Inc.

Computation of Per Share Earnings

	For the three months ended June 30,
	Basic						Diluted (a)
	2003			2002			2003			2002
	(in thousands, except per share data-unaudited)
Average number of common shares outstanding		25,934			25,804			25,934			25,804
Average common shares due to assumed conversion of stock options		0			0			10			472
Total shares		25,934			25,804			25,944			26,276
Net loss	($	2,384	)	($	6,415	)	($	2,384	)	($	6,415	)
Per share net loss	($	0.09	)	($	0.25	)	($	0.09	)	($	0.25	)

	For the six months ended June 30,
	Basic						Diluted (a)
	2003			2002			2003			2002
	(in thousands, except per share data-unaudited)
Average number of common shares outstanding		25,934			25,625			25,934			25,625
Average common shares due to assumed conversion of stock options		0			0			10			168
Total shares		25,934			25,625			25,944			25,793
Net loss before cumulative effect of a change in accounting principle	($	3,231	)	($	8,713	)	($	3,231	)	($	8,713	)
Cumulative effect of a change in accounting principle, net of taxes		0			(56,704	)		0			(56,704	)
Net loss	($	3,231	)	($	65,417	)	($	3,231	)	($	65,417	)
Per share loss before cumulative effect of a change in accounting principle	($	0.12	)	($	0.34	)	($	0.12	)	($	0.34	)
Per share cumulative effect of a change in accounting principle, net of taxes		0.00			(2.21	)		0.00			(2.21	)
Per share net loss	($	0.12	)	($	2.55	)	($	0.12	)	($	2.55	)

(a) When the computed diluted values are anti-dilutive, the basic per share values are presented on the face of the condensed consolidated statements of operations.