The year is 1922, and business at the El Fey Club is booming. Larry Fay, the owner of the underground establishment, is notorious for his financial savvy, and for encouraging and catering to the public's unseemly appetites. His partnership with producer Nils Granlund has brought the legendary Ziegfeld Follies show to New York City, and if the illegal booze wasn't enough to draw crowds, the Ziegfeld girls are. But longstanding rivalries, unchecked ambition, and amorous affairs have begun to poison the water of this Manhattan oasis.