This movie opens in 1905, when showgirl and daughter of a deceased gambler Peggy Martin falls in love with Monte Van Tyle and breaks the news to lover Fiske that she is leaving him. She and Monte marry and move into the title house, where Peggy says she “wants to live forever.” They live an idyllic life for several years, have baby Eleanor, and life is beautiful. Then Fiske comes back and tells Peggy he is dying and wants her to be with him. She refuses, he gets desperate and tries to shoot himself, they struggle and he is shot dead. Peggy is convicted of manslaughter and sentenced to 20 years. She tells the faithful Monte to someday tell Eleanor she died in jail. Time passes, Monte dies in WWI, Peggy is finally released. Her mother-in-law left her $5,000 in her will, so Peggy gets a makeover and goes on a cruise, where she meets Bill Blaine, a crooked gambler. They team up and make scads of money all over the world cheating suckers. They end up in New York and take jobs at a recently-opened gambling house on 56th Street - Peggy’s old home. Bill is in charge of the gaming and Peggy deals black jack. Who should show up but Peggy’s daughter Eleanor, who gambles herself into a $15,000 debt she can’t pay. Bill threatens to call her society-type husband and tell him about Eleanor, but Eleanor shoots him just as Peggy walks in.