The story:
A wager between two sophisticated, wealthy men at an exclusive club forms the backdrop of one of the Phantom's strangest adventures, in which a group of smugglers called The Blue Gang kidnaps Diana to lure the Phantom to their hideout and prove that he exists!

The finale takes place on The Blue Gang's ship, where the Phantom has to rescue Diana and another prisoner before he stands face to face with the smugglers' elusive leader...