Set in New York City, taking place from 1917 to 1931, it is a semi-fictitious account of the rise of Charles "Lucky" Luciano, Meyer Lansky, Frank Costello, and Benjamin "Bugsy" Siegel.

The film stars Christian Slater as Luciano, Patrick Dempsey as Lansky, Costas Mandylor as Costello and Richard Grieco as Siegel, with Michael Gambon, Anthony Quinn, Lara Flynn Boyle, and F. Murray Abraham in supporting roles.

Believing that the Mafia must restructure itself in order to thrive, Luciano and Lansky recruit Siegel and Costello to eliminate their bosses and assume control, setting up the Commission and dividing the New York underworld between five families.

The website's critics consensus reads: 'Despite an abundance of style and some big names, Mobsters can't escape its empty plotting, numbing violence, and Gangster Movie 101 concepts.

[4] Variety wrote that "Mobsters resembles a cart-before-the-horse case of putting marketing ahead of film-making, as the seemingly can't-miss premise of teen-heartthrob gangsters gets lost in self-important direction, a shoddy script and muddled storytelling.