Under the false daylight of modern Las Vegas, the Leprechaun has returned from his stony grave to claim what is rightfully his.
When a good luck statute of the Leprechaun wearing an amulet is brought into a Las Vegas pawn shop by a mysterious man, the shop's owner thinks he has run into good fortune. Once the amulet is removed all thats left of the status is an overflowing pot of gold.
When college bound Scott McCoy finds a coin in the wreckage of the pawnshop, he thinks he has found his own piece of heaven. A single piece of Leprachaun's gold, he discovers, can bring fortune and fame by granting the fondest wish of the one who holds it.
As the gold piece changes hands, murder and destruction follow. The Leprechaun tracks his treasure from the casino manager to the evil magician, his killing spree getting more gruesome with each murder. Finally, it's up to Scott and his new girlfriend Tammy to stop the little monsters rampage.