Jimmy Durante's movie star Schnarzan faces competition when Baron Munchausen arrives with real man-eating lions. Durante hosts a party to use the lions in his next film, but his rival tries to buy the lions first, leading to a conflict.
When earthy Dolly Portland is rejected by Captain Gaskell in favor of a socialite, she aids Jamesy McCardle, in league with Malay pirates, in his plot to seize Gaskell's ship.
After winning a stud farm in lieu of gambling debts, bookie Duke Bradley turns an eye to the daughter of the now deceased gambler and her millionaire fiancée.