Mike was deactivated from Bookmaking because his book fell apart because after he lost Joey A's money, no one would bank him anymore. Marco was doing it previously. Did your "father" teach you what a bank is when making book Chicago? lol.
Mags lost Joey A's money in stupid business deals period. He let people take advantage of him. Everyone backed away from him after Joey A stopped talking with him. This happened long before DiFronzo told everyone in Elmwood Park to keep their heads down.
But if you question the guy's Outfit knowledge because he couldn't make it as a bookie, then you are just an idiot. The guy is mafia royalty and related to everyone from the Frattos, Ebolis,etc. through marriage. He used to drive Jackie Cerone around and bang his daughter Jill. He was a prince of Rush Street when Rush Street was still a visible possession of the Outfit. He certainly got in his share of fights, but never was a violent person like his father.