Yes, I know lawyers are considered Satan, but let's address accountants. The following is from the LV Sun Article Andy referenced:

"The move will reduce earnings for MGM MIRAGE, which will no longer be able to capitalize the interest associated with the Atlantic City project."

In what kind of world does deciding against spending money decrease your earnings? I guess it only happens in a world where spending money justifies capitalizing interest against old loans. I wish I could count my interest against my student loans as "Earnings"--- maybe I could buy a house.