Exhibit 11
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Hollywood Park, Inc.
Computation of Earnings Per Share
For the three months ended June 30,
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Basic Diluted (a)
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1999 1998 1999 1998
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(in thousands, except per share data)
Average number of common shares outstanding 25,871 26,285 25,871 26,285
Average common shares due to assumed conversion of
stock options 0 0 258 143
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Total shares 25,871 26,285 26,129 26,428
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Net income allocated to shareholders $9,711 $8,129 $9,711 $8,129
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Net income per share $0.38 $0.31 $0.37 $0.31
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For the six months ended June 30,
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Basic Diluted (a)
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1999 1998 1999 1998
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(in thousands, except per share data)
Average number of common shares outstanding 25,836 26,281 25,836 26,281
Average common shares due to assumed conversion of
stock options 0 0 (277) 490
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Total shares 25,836 26,281 25,559 26,771
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Net income allocated to shareholders $13,844 $6,895 $13,844 $6,895
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Net income per share $0.54 $0.26 $0.54 $0.26
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(a) When the computed dilluted values are anit-dilutive, the basic per share
values are presented on the face of the consolidated statements of operations.