Inside the armory, Nucky meets with Arnold Rothstein and Johnny Torrio. A secret summit! Nucky gets right to the point and tells Torrio that it was Capone's guy who shot him. Torrio knew something was up and says Al has been consorting with Jimmy. Rothstein (finally) mentions how Jimmy came to him with an offer after Nucky was thrown in jail. He can't say Lansky and Luciano aren't working with Jimmy, and he brings up the "failed hijacking" that killed one of Waxey's men. Nucky gets poetic about it, saying, "The pups have grown fangs, gentlemen." So...what to do about it? Nucky can't kill anyone with the feds up his ass. And he doesn't want to take a plea and retire. Rothstein pipes up: They should do nothing. They don't have a move right now. They should wait until they do have a move. He says he makes his living as a gambler. Some days he makes twenty bets. Some days he makes none. He waits. He plans. He marshals his resources. And when there IS a bet to make? He bets it all.
On the Boardwalk, a half-man, half-woman attraction (really just a guy with half of him made up as a lady) wows the crowds. Meanwhile, Van Alden and Sawicky are at a food counter. Van Alden rudely turns down the offer of a comped meal, saying it's against regulations. He looks expectantly at Sawicky, who's all, "Uhhh, that's right." Van Alden then gets philosophical, about that which is evil in and of itself versus an evil dictated by statute. The latter includes accepting free lunches... or selling whiskey. This is a dangerous conversation for Sawicky, because even though we know that Van Alden's moral resolve is deteriorating, Sawicky doesn't, and there's also no predicting Van Alden's latest wild mood swing. Sawicky says when he first joined the Bureau, he was convinced they were doing right. But seeing how it's harder and harder to enforce the law... he trails off. Moral dilemmas!
Hey! It's a Bohemian Beach Party! Louise takes Angela around to meet her weirdo artist friends. There is much drinking, music, and dancing. Louise takes Angela's hand, and when Angela looks nervous, she tries to put her at ease: "We're invisible here." Cut to outside, as the pair listen to ukulele music together. Angela gathers up her courage and kisses her. It's all very sweet.
Nucky, Margaret, and the kids are playing a board game at home. NOT Monopoly, unfortunately. Margaret is still holding a sick Emily, while Nucky is lost in thought. He's staring at the image of a steam ship on the board, getting an idea. It's Uncle Nucky's turn in the game, and he asks the kids to start calling him Dad. Aw. "It's your move, Dad." Teddy, you're right on the nose. Boardwalk Empire, you too.