Magician duo Burt (Steve Carell) and Anton (Steve Buscemi) have been Las Vegas headliners for the past decade, but time has begun to take its toll on their act, not to mention their friendship. To make matters worse, there's a slick new guy on the block - Steve Gray (Jim Carrey) - who's been wowing audiences with dangerous tricks and stunts.
In the face of adversity, their partnership implodes, and Burt falls on hard times. But after taking a job as an entertainer at an assisted living community, he meets retired magician Rance Holloway (Alan Arkin), who might just be able to inspire the disillusioned illusionist back to greatness.