Malcolm and Moira. In the present! As usual, Malcolm is in his office at night. Malcolm has news: "It's ready." So vague! The Markov device, whatever that is, is coming to Starling City. Moira awkwardly congratulates him. He tells her they'll always have a connection. She says she's sorry Robert can't be there, and Malcolm apologizes for taking him away. He toasts, "To Robert." She answers, "To Rebecca."
Back to the past! Moira tells Robert that tonight was "just another Ted Kord fundraiser," which serves no purpose but exciting fans of the Blue Beetle. So if that's you, congratulations. Robert tells her about the Undertaking, which will level the Glades. And he's not evacuating that section of the city. He tells her, "I'm not the man you think I am." About a month before the opening of the steel factory that became the Arrowlair, a councilman demanded a bribe from Robert. They fought, and he fell. So you killed a councilman? Huh. Robert continues, "The work I'm doing with Malcom. With the list. It's my penance, Moira." She points out that you don't really fix one murder with hundreds or thousands more. She begs him not to let it happen.
Felicity makes a huge bet and gets dealt an ace and a queen. She acts happy, and a goon comes up to ask her to come with him. Well, he's not really asking: "Get. Up."
Felicity is brought to Mr. Alonzo. It's a very red room, which matches her dress. It's a struggle not to abandon the recap and start talking about the use of red in Kubrick films, but I shall soldier on. Felicity claims her name is Megan. Alonzo asks if she knows where the phrase "86" comes from, and she says it was a casino in New York. He accuses her of cheating, and tells her to leave her chips and go. Counting cards isn't really cheating. Oh, but they know she has a radio in her ear. Yeah, that's definitely cheating. They pull out the earpiece and squash it. Oliver's on the move. Felicity tells them, "You're gonna be really upset when you meet my partner."
Oliver kicks through the front door and starts busting people up. He kills two guys, but at least at least they were shooting at him with automatic weapons. Another woman might get hit in the hand. One guy gets his foot stabbed to the floor. There's a lot of mayhem.
Oliver hits the office, where Alonzo is holding a gun to Felicity's head. So Oliver aims past him, and we see that he shot a dart in the dartboard. It explodes and Alonzo lets go of Felicity. So now Oliver can grab him and start interrogating him about Walter. Alonzo says Walter is dead. And he's sure because he heard the gunshot. Oliver punches him out. Then he takes off his hood (right in the middle of a job, sheesh) and turns to Felicity, looking stricken.