Pinnacle Entertainment (PNKZV) 10-Q 2003 Q3 Quarterly report

Exhibit 11

Pinnacle Entertainment, Inc.

Computation of Per Share Earnings

	For the three months ended September 30,
	Basic						Diluted (a)
	2003			2002			2003			2002
	(in thousands, except per share data-unaudited)
Average number of common shares outstanding		25,934			25,911			25,934			25,911
Average common shares due to assumed conversion of stock options		0			0			1,394			209
Total shares		25,934			25,911			27,328			26,120
Net loss	$	(16,397	)	$	2,481		$	(16,397	)	$	2,481
Per share net loss	$	(0.63	)	$	0.10		$	(0.60	)	$	0.09
	For the nine months ended September 30,
	Basic						Diluted (a)
	2003			2002			2003			2002
	(in thousands, except per share data-unaudited)
Average number of common shares outstanding		25,934			25,721			25,934			25,721
Average common shares due to assumed conversion of stock options		0			0			655			208
Total shares		25,934			25,721			26,589			25,929
Net loss before cumulative effect of a change in accounting principle	$	(19,628	)	$	(6,232	)	$	(19,628	)	$	(6,232	)
Cumulative effect of a change in accounting principle, net of taxes		0			(56,704	)		0			(56,704	)
Net loss	$	(19,628	)	$	(62,936	)	$	(19,628	)	$	(62,936	)
Per share loss before cumulative effect of a change in accounting principle	$	(0.76	)	$	(0.24	)	$	(0.74	)	$	(0.24	)
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	$	(0.76	)	$	(2.45	)	$	(0.74	)	$	(2.45	)

(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.