In 1942, in San Juan, Puerto Rico, a casino is organizing a farewell party for its patrons, since it's about to be turned into a US military base. The guests drink, seduce and gossip, but some also plot against each other.

The film dramatizes the life of Isabel "la Negra" Luberza Oppenheimer. Pablo, a Caribbean peasant, and Isabel, a politician's mistress, open a brothel that becomes internationally famous. Though they gain wealth and power, the one thing that Isabel seeks continues to elude her.

After several years of dreaming about the beautiful girl in a calendar photo, a composer, being overwhelmed by his girlfriend's jealousy, discovers that his next-door neighbor is that girl.