HR 4411 is dead in the water. Mark my words.
It was simply a way for the repubicans to pander to their base and distance themselves from all the money they got from Abramoff and the Gambling lobby. They know that corruption is going to be a issue for them in November and this is a way to spin/fool the public that they are not in bed with Gambling lobbys.
House republicans will say they tried to get legislation through but the Senate (Which is more evenly balanced) stonwalled due to the Democrats.
Gaming Stocks in london rallied (party gaming, etc)after the house bill passed with the exception of Neteller which shed 8%. To me, that market reaction would indicate that regulation is more likely.
Just my .02
you can read my other vents on this topic here