Two children sing a "Tournament Song" celebrating chess before we see the adults mucking things up, making it more about "US vs. USSR" than the spirit of the game. The song is intercut with a dispute over the match regulations, where the mutual paranoia comes across clearly. Next the Arbiter comes in with "The Arbiter's Song," and then we find ourselves in the chess match - interrupted by "The Merchandisers' Song."

Freddie stops the proceedings, accusing Anatoly of cheating by using coded yogurt. He even attacks the Arbiter, and then storms off. Florence, Molokov, the Arbiter, and Anatoly debate over what to do next ("A Model of Decorum and Tranquility"). The Arbiter lays down the law, and the children sing a second "Tournament Song" to contrast with the proceedings.

In an extended argument introduced by the Arbiter ("Argument"), Florence demands of Freddie whether he wants to lose his only friend ("1956 - Budapest is Rising") and "How Many Women" would put up with this treatment. [Note: "How Many Women" is literally intercut in the middle of "1956 - Budapest is Rising."] Emotions rise to a pitch; he slams the door in her face. She wonders if perhaps she is on "Nobody's Side."

In the other hotel room, Anatoly, Molokov, and Svetlana confer ("The Russian Suite"), and we see that Anatoly's marriage is hurting because of his success. [Note: Svetlana has some of Molokov's lines from "Anatoly and Molokov," the London equivalent of this song.] He is pessimistic, and wonders what he'll do now that he is "Where I Want to Be."

Cut to a terrace bar, where the chorus comments on the nature of their surroundings ("Cocktail Chorus") and Walter and Molokov taunt one another. There is a bit of setup before Florence is dumped off on Anatoly; they fall in love ("Terrace Duet") and have a long kiss just in time for Freddie to walk in. He doesn't take it well ("Who'd Ever Think It?"). Walter tries to psych him up, and he winds up in a shouting match with Anatoly ("No Contest"). [Note: On "You taught me..." Anatoly takes over Walter's part of the song, and it's slightly rewritten to accommodate this.] Anatoly is led away, and we find that "Florence Quits" as Freddie blames her for his new losses on the board.

Back at the arena, we hear that Anatoly is defecting from the Soviet Union. Florence sings her thoughts ("Heaven Help My Heart") after the initial turmoil, and the flowers Anatoly sends her. [Note: "Heaven Help My Heart" is used as the act closing number; it has an extended ending because of this.]

Later, at the hotel, the guests ruminate over the changes ("Cocktail Chorus - Reprise"). Then, Walter finds out the perils of using the British consulate ("Embassy Lament") as Anatoly's defection proves time-consuming. Svetlana and Anatoly sing about what has been ("You and I"). [Note: This uses only the Broadway version's second half, which featured Svetlana and Anatoly.]

Reporters jump Anatoly and ambush him with pointed questions. He dismisses them and delivers his internationalist "Anthem." Svetlana, who has been watching, wonders what it will be like when she is in "Someone Else's Story." [Note: The lyrics are thoroughly changed, and a verse of Anatoly and Florence's "You and I" is interpolated in between.] As jilted lovers continue to interact, Freddie is waiting for Florence. He tries to make it all back up to her, but it is too late ("Silly Boy"). She rejects his proposition, and leaves him to reflect on his past ("Pity the Child").

Now completely out of the game but not out of the picture, Molokov and his cronies contemplate how "The Soviet Machine" can make up this embarassment in a rousing number. Molokov plots and plans, bringing Walter into his intrigue involving the promise of Florence's father.

This leads to a megascene of "The Deal." After the Arbiter's introduction, Molokov sends Svetlana to convince Anatoly to lose for her sake. She tries, and is rebuffed. Walter has a long argument with Florence, but cannot get her word that she will convince Anatoly to throw the match. Molokov and Walter meet up and plot, with Walter lying to Molokov about Florence being convinced, before sending Freddie out to make an attempt. He fails with both Anatoly and Florence; in the end, we see clearly that Anatoly isn't going to lose.

[Bit by bit, "The Deal" musically. The Arbiter starts it more or less like he does in the London "The Deal." Molokov's lines are to the same music as well. Svetlana has a mini-reprise of "Someone Else's Story" before the mini-reprise of "Where I Want to Be." Walter and Florence have a heavily extended version, with what amounts to a complete reprise of "1956 - Budapest is Rising" with new lyrics, plus Walter's "We have some people to recover..." from the London "Deal." Walter and Molokov sing what they sung in the London version; they also sing an abbreviated "Let's Work Together," though it lacks the dialogue from Broadway. Freddie sings all of the concept album "The Deal / No Deal," though with new lyrics throughout, and with a reprise of "Pity the Child" sung by Florence before he approaches her. The ending is extended, with new lines for Anatoly and Florence to the rhythms from "Florence Quits." It slides into a reprise of "Nobody's Side."]

This is followed up by Florence and Svetlana in separate worlds as they sing "I Know Him So Well," reflecting on the fact that both will ultimately lose Anatoly. It continues into an "Endgame" with new elements as well as London and Broadway elements; the important thing is, Anatoly wins. He announces he will then go back to Moscow, Freddie says he's staying in Bangkok, Florence is lost and betrayed and won't get her father back anyway. ("Departures.") There is one last, tearful moment for Anatoly and Florence as they say their goodbyes ("You and I - Reprise").