Several yeas ago, a Board member posted several film pics one of which showed Roth sitting in his hotel room with his hands on the arm of the chair in which Michael was sitting. The parodied caption below the picture said "Michael, I'm bigger than US Steel."
Your recollection is a little off. He grasps Michael's hand and says, "..we're (the U.S Gambling Industry) bigger than U.S steel."
No, he grasps one of the arms of the chair in which Michael is sitting and parodies the line he delivers in the movie. That was the whole point of the posting.