Nevada has attracted the attention of the captive insurance industry. Regulators point out the flexibility allowed under Nevada laws, allowing captive owners substantial leeway in developing captive insurance mechanisms. Recent amendments to its legislation reduce regulatory compliance expenses and simplify financial reporting in the state, and allow captives to go into dormancy. Nevada touts its existing financial infrastructure, its location and accessibility, and its reputation as an entertainment and convention center (Las Vegas) to compete with other domiciles for captive business.