The prospects of the Philippines’ casino industry remain bright for 2018, with analysts forecasting the gross gaming revenues of the country’s four integrated resorts to expand by 32 percent this year.

International brokerage Morgan Stanley said in its note on Thursday that the Philippine casino GGR will get a boost from newcomer Okada Manila, which has been adding facilities since its soft launch in December 2016.

Without Okada Manila, Morgan Stanley estimated that the Philippine casino GGR will likely be at 14 percent.

“Mass revenue growth has strong correlation with hotel room supply growth,” Morgan Stanley analysts Alex Poon and Praveen Choudhary said, according to GGRAsia. “The opening of Okada Tower A in first quarter 2018… could accelerate [market] growth in 2018.”