It also sets the tax rate to 18-30-percent depending on how much money a casino generates. 'The final outcome helps to protect the 300 million dollar investment we have made in the Commonwealth and the more than 1,000 employees we have hired,' Colonial Downs Group said in a statement. The bill allows them to add historical horse racing machines at Rosie locations. The Colonial Downs Group was worried about the potential impact to horse racing. 'This is for economically depressed cities,' said Del. It allows for casinos in five cities including Norfolk, Portsmouth, Richmond, Danville, and Bristol. Voters in the cities will also have to approve casinos during a referendum this November. Ralph Northam's signature to become law, follows two years of deliberation on whether to legalize casinos in the state. The legislation, which still requires Gov. The Virginia General Assembly passed legislation allowing commercial casino gaming in Virginia.