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At the Club, Michael surprises Lauren with his return from New York… with her favorite bagels, kisses, and a new mustache.

Michael fills Lauren in on his trip and wants to go traveling with her. She says, “We can’t.” Lauren tells him there’s an offer for a new opportunity that she’s considering. “Phyllis has asked me to help her run Newman Enterprises.

Michael assures her this venture is doomed from the start. He’s sure Victor already has a plan for retaliation… Lauren could be caught in the crossfire. They bicker as Lauren says she’s not scared of Victor Newman. He asks if she condones the theft of the company. She won’t shed a tear for Victor after all he’s done.

Lauren wonders why Phyllis is being thrown under the bus for using the same methods Victor does. When she does it, she’s greedy and unscrupulous, when he does it, he’s brilliant. Michael concedes the point, but still thinks Victor will come out on top. They should stay out of it. Lauren, fired up, wants to be part of this and needs the challenge. Michael, caught up, says she doesn’t need his permission. “Damn right, I don’t,” she smiles.

Bad News Billy

Billy arrives at Phyllis’ office, and she chirps, “You’re welcome.” He informs her they found Jack last night, so there’s no reason to sign Chancellor back over to the Newmans.

Phyllis asks if Jack’s OK, and Billy assures her they rescued him. Now, he wants Chancellor. Tensions rise as she stalls. Finally, she informs him she gave Chancellor to Victor last night. Steam rises from Billy’s head as she explains, “I did it for you. I did it for Jack and your entire family. We made the trade. The Newmans have Chancellor again.”

Billy erupts, yelling at Phyllis that Victor cheated her out of the company. She reminds him that this is what he wanted. Why didn’t he call her when he found Jack?! Billy’s sorry he trusted her and warns this isn’t over: Victor won’t stop at Chancellor.

All About Matt

Sienna and Noah greet Sharon at Crimson Lights, and she tells them Nick and Adam have arrived in Vegas… now all they have to do is find Matt. They wonder if Riza will be helpful. Sharon admits there’s a lot about this plan that concerns her.

Sharon and Noah quiz Sienna about Matt’s connection to Vegas. She admits she thought he was having an affair with someone there… it could have been Riza. She goes on about texts he’d get from someone with the initial ‘R’ but his cheating hardly matters given that he turned out to be a monster.

More: Who will play Riza?

In Vegas, Adam seems off. Nick asks if he’s still up for this. Adam admits it’s unnerving being back there. Nick tells him it’s not to late to tap out. Adam asks why Nick keeps trying to get rid of him. He’s not leaving, and it’s not up for debate. It would be damn near impossible for Nick to connect with Riza.

Nick wants to end this thing with Matt on his own… it’s nothing personal. Adam won’t budge. They talk through their approach to Riza, and Adam warns she can be dangerous… he needs to take strategic approach. He’ll pretend to want to get back in the game for money, but Nick will have to lay low. Stubborn as ever, Nick refuses.

More: Adam’s turn back to the dark side

Adam insists Nick can’t go near Riza. His brother plans to roam the streets asking if people know Matt. Adam tells him that’s a terrible idea; he’ll have to curb his hothead tendencies. Once they find Matt, he can deal with him however he sees fit.

Lesson Learned?

Billy meets Sally at Society and she realizes he’s upset. He first tells her Diane moved out and Jack’s devastated. Finally, he tells her about Phyllis giving Chancellor back to Victor, and why. Sally squints, “She got played.” Billy sulks that he’s lost Chancellor again.

Sally’s sympathetic but suggests it’s not meant to be. She asks what he’ll do now, warning that his former company is now Spectra Charles Media. He laments making Chancellor his focus over everything and decides it may finally be time to back off.

More: Bergman teases long-lasting consequences for Jack

The Final Scenes

Lauren and Michael join Phyllis in her office, and he immediately warns that Victor will come after her. Phyllis shrugs that he got Chancellor back. He argues that the Mustache will never be satisfied with that.

Lauren intervenes and Phyllis asks if she’s turning down her offer. Michael says he’ll support Lauren whatever she decides. Lauren says, “I’m in.” She wants to be part of her vision. They can do incredible things together! Michael looks uneasy as they hug.

At Society, Sally urges Billy to take some time to regroup and suggests he fly to London and spend some time with Jill. If he mends their rift, he’ll feel better about the future. Billy will consider it.

In Vegas, Adam finds Riza’s phone number. He’ll act desperate and try to get her to meet up. He can’t just go in there demanding to know about Matt. Nick agrees that they can’t tip Matt off or they’ll be back where they started.

In Crimson Lights, Sharon warns Sienna and Noah that they can’t let their guard down. Matt could be anywhere, even here in town. Sharon steps away, and Noah gets a text, “Make the most of your remaining days. I’ll see you soon.” To Sienna’s horror, he texts back, challenging Matt to be a man and come out and fight him.

Inside, Sharon gets a call from Nick, who updates her on their plan, noting that once Adam makes that call there’s no turning back.

More: Explosive partner swap ahead

In Vegas, Adam takes the risk and makes that call. He leaves a voicemail for Riza, “It’s your old friend, Spyder. Call me.”

New: Victoria Rowell heartbreak