Exhibit 11

Pinnacle Entertainment, Inc.

Computation of Earnings Per Share

	For the three months ended March 31,
	Basic					Diluted (a)
	2005			2004		2005			2004
	(in thousands, except per share data)
Average number of common shares outstanding		40,502			31,417		40,502			31,417
Average common shares due to assumed conversion of stock options		0			0		1,920			1,345
Total shares		40,502			31,417		42,422			32,762
Net income (loss)	$	(2,231	)	$	1,433	$	(2,231	)	$	1,433
Net income (loss) per share	$	(0.06	)	$	0.05	$	(0.05	)	$	0.04

(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.