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The story of Casino centres on Sam "Ace" Rothstein (De Niro), a Jewish American handicapper and professional gambler who is hired by the Chicago Outfit to manage the daily operations of the Tangiers Casino in Las Vegas. Sam's "made man" pal Nicky Santoro (Pesci) and Ginger McKenna (Stone), a streetwise chip hustler whom Sam marries and has a daughter with, are two other prominent characters. The movie focuses on Sam's management of the casino, the challenges he faces at work, the Mafia's connection with the casino, and the progressive erosion of his standing and relationships as Las Vegas develops over time.

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