Ace Corbin (Cary Grant) a charming Chicago gangster (replete with gray at the temples and a streak in his wavy dark hair) is acquitted of murder charges. Ace was framed by Pete Manning (Jack La Rue).
Ace decides to retire from the racket as a gambling boss, reform, and begin a new life in California. But his enemies attempt to stop him. On the train, he falls in love with femme fatale Eleanor La Velle (Benita Hume) a gambler's girlfriend. They both conceal their true identities and have adopted aliases. In Southern California, Eleanor discovers that her lover, Joe Burke owner of the Casino Del Mar steamer, which operates legally outside the three-mile limit from the harbor is in debt for $9,000. Because Pete Manning's thugs are ruining his business.
Eleanor chooses to remain loyal and help Joe with his business, rather than desert and leave him for Ace. Joe and his right-hand man Blooey (Roscoe Karns) offer to turn over the casino to Ace, so he can improve the business and seek vengeance on Manning. Ace resists becoming involved until Manning's men threaten him. When Ace runs the casino he thwarts Manning's customers by commandeering the water taxis over to his steamship instead. The first evening, Ace encounters Eleanor on board the ship and she discovers his true identity. Eleanor who is still in love with Ace remains on the ship, even after Manning's men cause an explosion and fire on board.
When the customers have left the ship safely and the fire is out, Ace and Eleanor remains on board for the night. In the morning, the district attorney questions them both and Ace discovers Eleanor's real identity, including her relationship with Joe. Also in attendance is Joe, who likewise discovers Ace and Eleanor's relationship. Back aboard the casino steamship, during a storm Joe and Ace accuse Eleanor of being a two-timer and lying to them both. Meanwhile, Manning and his man sneak on board the ship and kills Joe. Blooey releases the anchor and the crashing waves wash Manning and his man off the deck. Ace, Blooey, and Eleanor jump to safety with life preservers. later, on a train Ace and Eleanor are married.
A 1933 American Pre-Code drama film directed by Louis J. Gasnier and Max Marcin, produced by Adolph Zukor, screenplay by Marcin and Seton I. Miller, from a story by Peter Ruric, based on Paul Cain's short stories: "Fast One", "Lead Party", "Velvet" and "The Heat", which were published in Black Mask magazine, cinematography by Charles Lang, starring Cary Grant, Benita Hume, Roscoe Karns, Glenda Farrell, Jack La Rue, Arthur Vinton, Charles Williams, Edwin Maxwell, Frank Moran, Frank Mills, Spencer Charters, Syd Saylor, Edward Gargan, Ortho Wright, William Welsh, Harry Shutan, Evelyn Selbie, Gail Patrick, Louis Natheaux, Theodore Lorch, Marc Lawrence, Arthur Hoyt, Jack Grey, Carrie Daumery, Gum Chung, Kate Campbell, Sammy Bricker, Hooper Aitchley and Larry Alexander. Carole Lombard was considered for the leading lady role.
A technical advisor, known as "Mr. 100" to maintain his anonymity, familiarized the actors with the "details of the parlance, activities, and manners of the gambling world".
The New York Times film review said: "A bit of old Hollywood entitled "Gambling Ship" found a temporary haven at the Rivoli yesterday. The new arrival-if a collapse into nautical metaphor can be forgiven on a warm day-is a weather-beaten hulk which deserves to be decently retired from active service. It steers an erratic course in too familiar waters, takes a terribly long time to traverse a course which was accurately charted an uncomfortable number of years ago, and, in brief, could be scuttled with almost no loss to Broadway ... For this stale and profitless narrative the producers have gathered an attractive cast. Although they are wasted in the leading roles, Cary Grant is a likable and intelligent actor and Benita Hume is a charming British actress. Roscoe Karns is helpful on the humorous side and Jack La Rue gives one of his vivid reptilian performances as the leader of the opposition gang"
Cary Grant's character aggressively rubs the head of a railroad porter, who flinches. No words are exchanged. Audiences of the time knew what was happening. Sometimes a joke, sometimes a superstition, but a white man rubbing the head of a black boy or man (who at the time was referred to as a "boy") brought "good luck." African-Americans considered the practice repellent; but in the case of the porter who couldn't argue with passengers and needed their tips, there was nothing he could do. Sociologists describe the gesture as a master-servant practice where a white man assumes the right to do whatever he wants with any random black person.
After an African American boot-black called Oscar, who worked on the Paramount lot was cast in a bit part, a black cinema in Los Angeles billed this mob tale as: "Sensational star in Gambling Ship, Oscar supported by Cary Grant." All the promo pictures outside the cinema were of Oscar.