A down-and-out gambler named Johnny Farrell arrives in Buenos Aires and quickly makes a name for himself with his sharp gambling skills. He attracts the attention of Ballin Mundson, the wealthy owner of an illegal casino, who hires Johnny as his right-hand man. Their partnership seems strong until Mundson returns from a trip with a new wife: the stunning and enigmatic Gilda, who happens to be Johnny's former lover. The air is thick with tension as Johnny and Gilda rekindle their love-hate relationship, even while trying to hide their past connection from Mundson. The three lives become increasingly entangled in a web of deceit, suspicion, and underlying passion.

As Johnny battles his lingering emotions for Gilda, Mundson's shady business dealings come to light, leading to dangerous consequences for everyone involved. Loyalties are tested, and secrets threaten to tear relationships apart. The suffocating tension between Johnny and Gilda unfolds against a backdrop of rising stakes and looming danger.