Captain Wallace Binghamton (Joe FLynn), St. Comdr. Quinton McHale (Ernest Borgnine) and Ensign Charles Parker (Tim Conway) brought their wacky antics to the big screen for this feature, spawned from the popular '60 television program of the same name. McHale and his crew get involved in a betting scam aboard their PT boat. Soon, they find themselves owning money to a group of Marines. In order to pay off their debts, they plan a sure-fire way of making money--involving the transportation of a disguised racehorse on board their boat.