Exhibit 11.1

PINNACLE ENTERTAINMENT INC.

COMPUTATION OF PER SHARE EARNINGS

	For the three months ended December 31,
	Basic									Diluted (a)
	2002			2001			2000			2002			2001			2000
	(in thousands, except per share data – unaudited)
Average number of common shares outstanding		25,929			25,444			26,421			25,929			25,444			26,421
Average common shares due to assumed conversion of stock options		0			0			0			0			79			1,085
Total shares		25,929			25,444			26,421			25,929			25,523			27,506
Net (loss) income	($	6,693	)	($	22,244	)	($	6,141	)	($	6,693	)	($	22,244	)	($	6,141	)
Net (loss) income per share	($	0.26	)	($	0.87	)	($	0.23	)	($	0.26	)	($	0.87	)	($	0.22	)

	For the twelve months ended December 31,
	Basic									Diluted (a)
	2002			2001			2000			2002			2001			2000
	(in thousands, except per share data – unaudited)
Average number of common shares outstanding		25,773			25,814			26,335			25,773			25,814			26,335
Average common shares due to assumed conversion of stock options		0			0			0			158			104			1,121
Total shares		25,773			25,814			26,335			25,931			25,918			27,456
Net (loss) income before extraordinary item	($	12,925	)	($	28,649	)	$	79,492		($	12,925	)	($	28,649	)	$	79,492
Cumulative effect of change in accounting principle, net of income tax		56,704			0			0			56,704			0			0
Extraordinary item, net of income tax		0			0			2,653			0			0			2,653
Net (loss) income after extraordinary item	($	69,629	)	($	28,649	)	$	76,839		($	69,629	)	($	28,649	)	$	76,839
Net (loss) income before extraordinary item per share	($	0.50	)	($	1.11	)	$	3.02		($	0.50	)	($	1.11	)	$	2.90
Cumulative effect of change in accounting principle, net of income tax		(2.20	)		0.00			0.00			(2.19	)		0.00			0.00
Extraordinary item per share, net of income taxes		0.00			0.00			(0.10	)		0.00			0.00			(0.10	)
Net (loss) income after extraordinary item per share	($	2.70	)	($	1.11	)	$	2.92		($	2.69	)	($	1.11	)	$	2.80

(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.