EXHIBIT 11 Pinnacle Entertainment, Inc. Computation of Earnings Per Share For the three months ended March 31, ------------------------------------------------------ Basic Diluted (a) ------------------------- ------------------------- 2000 1999 2000 1999 ------------ ------------ ------------ ------------ (In thousands, except per share data - unaudited) Average number of common shares outstanding 26,260 25,800 26,260 25,800 Average common shares due to assumed conversion of stock options 0 0 1,047 (405) ------------ ------------ ------------ ------------ Total shares 26,260 25,800 27,307 25,395 ============ ============ ============ ============ Net income allocated to shareholders $ 21,912 $ 4,133 $ 21,912 $ 4,133 ============ ============ ============ ============ Net income per share $0.83 $0.16 $0.80 $0.16 ============ ============ ============ ============ (a) When the computed diluted values are anti-dilutive, the basic per share values are presented on the face of the consolidated statements of operations. 1