According to the acknowledgements, Robert Lacey set out to write a biography about a monster and ended up writing about a more successful than average crook with a lot of family troubles. While there is still the "crime doesn't pay" moralizing, Lacey is too honest of a biographer to fall into the Kefauver conspiracy theory about the mob as a vast corporate entity and portrays Meyer Lansky and associates as business allies by convenience.
Most of the book seems to have been culled from interviews with Buddy Lansky, Meyer Lanksy's quadraplegic son who died shortly before publication. From that perspective most of Lansky's life involves his personal life including his fights with his first (insane) wife and his relationship with his second wife hated by all three children. There are anecdotes about his rebellious daughter Sandra, his emotionally crippled son Paul and his physically crippled son Buddy. In one of the anecdotes Paul's daughter, Myra Lansky, tries to contact him after 8 years of silence only to be told by Sandra to respect Paul's privacy. (like a father has a right to completely ignore and forget about his children). Another anecdote concerns the fact that Meyer blamed Buddy's wife for his financial troubles and Buddy told his wife "my dad thinks we should get a divorce" and on that alone, divorced her.
What comes out of this book is a miserable life of a guy who was a fighter all his life and didn't have enough business sense to go straight. All of his investments ultimately failed and his legal troubles ate up all of his money. He couldn't even emigrate to Israel when he rediscovered his Jewish roots.
While we are left with a sad portrait of Meyer Lansky's personal life there seems to be fairly light treatment of his professional life. Some of the gambling institutions are covered and there is a chapter on the Cuban connection but once we are in the last two decades it's all heart attacks and fights with the second wife. One feels slightly cheated even though the author makes a point to stress that Meyer Lansky was not as financial successful as the myths around him would have you believe ("bigger than U.S. Steel, $300 million, etc.) but he did somehow find the money to pay for that lawyer and those trips to Israel.
Toward the end this becomes a depressing grim book. The only point of gaiety is Meyer and all his friends sitting around tv watching a miniseries based on his exploits.
All in all this is an excellent gangster novel for anyone who wants a more truthful accounting of mob life in America. However, if these truths were discovered at the outset, the myth of Meyer Lansky would not have grown to the extent that books like this would need to be written. It's not as fun as the mythology, but then again that's the point.
If you want a mob book that buys into the conspiracy and mythology check out The Last Testament of Lucky Luciano.