The bulls came charging at Macau casino stocks after international brokerage Morgan Stanley painted a rosy picture of the former Portuguese enclave’s gambling industry.

The Financial Times reported that Morgan Stanley’s 2018 outlook for Macau has stoked bullish sentiment among investors, pushing the shares of Macau casino companies up by more than 2 percent.

In its note on Tuesday, Morgan Stanley predicted that lower tier Chinese cities will provide the needed fuel for Macau’s casino market in the coming years as residents become more eager to travel.

Cities in China are classified based on their economic development, local gross domestic product, advanced transportation systems and infrastructure, as well as historical and cultural significance. Examples of ‘tier one’ cities are Beijing and Shanghai.