Things are rapidly changing at the Dragon Slayers' Academy. The money-hungry headmaster, Mordred, has cooked up his most outrageous scheme yet. He is actively planning to convert the entire school into a deluxe casino to make a fortune, which means he is rushing all the students through a surprise graduation to get them out of the way. Meanwhile, Wiglaf and his friends are entirely focused on a desperate rescue mission. They are searching everywhere to find their beloved dragon buddy, Worm. Unsuccessful in their quest, the group returns to the academy only to find the doors closing and their school days officially over. The young knights-in-training must figure out what comes next now that they are suddenly on their own. They must race against time to reunite with Worm and stop Mordred's terrible casino plans before the academy is lost forever.