Archie Slott inherits a successful racing stable from his dissolute uncle, but his sanctimonious aunt tries to convince him to sell it off. In an attempt to avoid doing so, he accidentally buys a failing all-in wrestling stadium as well. Now Archie is faced with the tasks of ensuring success for his stable's Derby entry, paying the salaries of his newly-acquired wrestlers, and avoiding a plot to convert the stables into a holiday home.

Based on the operetta I Lost My Heart in Heidelburg, which in turn owed a lot to that old chestnut The Student Prince. In 1825, impoverished composer Max enrolls at Heidelburg University. Local girl Veronika falls in love with Max, helping him to finance his education and clear his debts. Alas, Veronika is left out in the cold when Max becomes enamored with gorgeous tourist Helene. Little does he know that Helene is the daughter of the Grand Duke, meaning of course that their romance is doomed to disappointment. Leading lady Grete Natzler later changed her screen name to Della Lynd, and under that cognomen co-starred with Laurel & Hardy in Swiss Miss (1938).