New casino openings and better infrastructure in Macau is driving investment bank Morgan Stanley’s optimism on the former Portuguese enclave’s future.

The South China Morning Post reported that the brokerage firm has raised its for Macau Gross gaming revenue (GGR) growth in 2017 to 10 percent in 2017 from its previous estimate of 2 percent.

In its recent note, Morgan Stanley equity analysts Praveen Choudhary and Alex Poon pointed out that the opening of Wynn Palace and Sands China is expected to continue driving revenue growth and ebitda in the first half of 2017.

“We believe the Macau cycle has turned and 2017 could show 10 per cent GGR and 13 per cent ebitda growth, the first in four years,” the Morgan Stanley analysts said. “And we see both mass and VIP growth tracking better than expected.”