International credit debt watcher S&P Global ratings has painted a rosy picture for Macau as it predicts that the former Portuguese enclave will see its gross gaming revenue climb by as much as 10 percent next year.

Macau has posted positive gross gaming revenues for the three consecutive months, year-on-year, with the opening of two new resorts, Wynn Palace and Sands’ Parisian. Sophie Lyn, a credit analyst of S&P, pointed out that both Wynn Palace and Sands’ Parisian will continue to lure recreational gamblers in Macau.

Despite the additional 4,700 hotel rooms from Wynn Palace and the Parisian, S&P data showed that Macau’s hotel occupancy continues its year-on-year improvement since June 2016, hovering above 80 percent.

“New casinos will add non-gaming attractions and hotel rooms, both of which should help attract mass-market gamers to Macau,” said Lin. “Cannibalization could occur between new and existing casinos, but we believe the worst is behind the industry.”