Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
For the three months ended September 30,
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Basic Diluted (a)
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2000 1999 2000 1999
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(in thousands, except per share data)
Average number of common shares outstanding 26,356 26,045 26,356 26,045
Average common shares due to assumed conversion of
stock options 0 0 1,102 815
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Total shares 26,356 26,045 27,458 26,860
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Net income before extraordinary item $37,489 $26,232 $37,489 $26,232
Extraordinary item, net of income taxes 2,653 0 2,653 0
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Net income after extraordinary item $34,836 $26,232 $34,836 $26,232
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Net income before extraordinary item per share $1.42 $1.01 $1.37 $0.98
Extraordinary item per share, net of income taxes -0.10 0.00 -0.10 0.00
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Net income after extraordinary item per share $1.32 $1.01 $1.27 $0.98
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For the nine months ended September 30,
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Basic Diluted (a)
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2000 1999 2000 1999
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(in thousands, except per share data)
Average number of common shares outstanding 26,306 25,906 26,306 25,906
Average common shares due to assumed conversion of
stock options 0 0 1,063 186
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Total shares 26,306 25,906 27,369 26,092
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Net income before extraordinary item $85,633 $40,076 $85,633 $40,076
Extraordinary item, net of income taxes 2,653 0 2,653 0
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Net income after extraordinary item $82,980 $40,076 $82,980 $40,076
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Net income before extraordinary item per share $3.25 $1.55 $3.13 $1.54
Extraordinary item per share, net of income taxes -0.10 0.00 -0.10 0.00
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Net income after extraordinary item per share $3.15 $1.55 $3.03 $1.54
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(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.