Disaster! takes place in 1979 Manhattan during opening night of the Barracuda, the first floating casino and discothèque in New York.  The characters gather to gamble and dance, unaware of impending natural disasters and the building's lack of safety measures compounds these catastrophes. Notably, the casino's structure was built on a fault line, which causes earthquakes throughout the show. The plot follows several characters' dynamics and interactions throughout the opening night as they deal with various plot elements reminiscent of 1970s disaster cult films such as The Poseidon Adventure and Airport 1975.

Disaster! is set to the disco music of the 70s.  Songs beloved by anyone who ever wore bell-bottoms will stick in your head for a week after this zany, madcap adventure!