A mobster named Roxy Robinson is "splurged" by members of a gang, using rapid-fire cream-shooting "splurge guns". Once splurged, a kid is "all washed up... finished". Speakeasy boss Fat Sam introduces himself and Bugsy Malone, a boxing promoter with no money ("Bugsy Malone"). At Fat Sam's speakeasy, there is much dancing and singing ("Fat Sam's Grand Slam"). Fat Sam is worried that his rival Dandy Dan will try to take control of the speakeasy. Blousey Brown, an aspiring singer, has come for an audition, but Sam is too distracted to see her. Bugsy meets Blousey when he trips over her luggage. He is smitten and flirts with her. Fat Sam's is raided by Dandy Dan's men, who shoot up the place. Dandy Dan's men continue to attack Fat Sam's empire, eventually taking away rackets and splurging members of Fat Sam's gang. Fat Sam sends all his available men to see if they can track down the guns. They are trapped at a laundry and all are splurged by Dandy Dan's gang...
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