Senators and casino owners (among other professions) are frequently criticized as being corrupt, unduly capitalistic, and extremely self-interested. Those traits alone do not mean either are part of or controlled by organized crime. Perhaps that was the point Michael was trying to make in saying “We’re both part of the same hypocrisy". They're both hypercapitalists, nothing more (which of course is false). It's also a statement that connotes a certain seediness without admitting to anything at all.