Nygaard confronts Malvo at the bar, following him and his companions into the elevator, annoyingly demanding Malvo acknowledge him. Instead, Malvo kills his "co-worker," Burt Canton, Burt's wife, Louise, and Malvo's new fiancée, Jemma. Malvo tells Lester that he'd been impersonating a dentist in Kansas City, Missouri for six months to assassinate Canton's brother, who's under witness protection. Nygaard strikes Malvo's head with the award and rushes back to his hotel room. Awakening Linda, he insists they immediately fly home.
The next day, after reviewing hotel surveillance footage, the Las Vegas Police Department contact Bemidji police reporting that Nygaard may be a witness. Deputy Solverson interviews Lester at his new house, but he denies seeing anything. In Fargo, Agents Budge and Pepper act on a new tip from Solverson regarding the rampage shooter and travel to Bemidji to meet with her. Impressed by her evidence, they ignore Chief Oswalt's plea to drop the investigation and compliment Solverson.
While delivering mail, Grimly notices Malvo driving by in a red BMW without initially recognizing his altered appearance. In Bemidji, Malvo stops by Lou's diner attempting to locate Nygaard. Lou, suspicious, shares little information.
Meanwhile, Nygaard, wanting to get away, quickly arranges a trip to Acapulco with Linda. They stop by his office to retrieve their passports and cash, but Nygaard, fearing Malvo could be inside, has Linda put on his hooded orange coat and sends her into the office. He sees Malvo shoot Linda after mistaking her for Lester while wearing the coat's hood. As Malvo leaves, he glances at Nygaard's car parked across the street, but Nygaard is hiding.
Tropes:
- Alcohol-Induced Idiocy: One possible explanation for why Lester chooses to go after Malvo in Las Vegas instead of walking away and enjoying his new life. Another explanation would be Drunk with Power as Lester had just won the Salesman of the Year award and felt kind of cocky.
- Are You Sure You Want to Do That?: In the elevator, Malvo asks Lester kindly if he really wants the confrontation. Lester's answer changes the fate of both characters.
- Armor-Piercing Question: When Bill tries to nip Molly's proof in the bud again by saying Chazz was arrested for everything, Budge points out Lester and Lorne met at the hospital, the same man who was in the Duluth shootout later with Wrench and Numbers. Hearing Bill stutter makes them assure that Molly was right to be suspicious and call on the FBI.
- Blood-Splattered Innocents: Lester is splattered with blood in the elevator.
- Boom, Headshot!: How Malvo executes all three of the people in the elevator.
- Catchphrase: Under his orthodontist identity, Malvo seems to be making "Aces" out to be his.
- Cleavage Window: Lorne's fiancée Jemma sports one of these in her Vegas dress.
- Conversation Casualty: The way Malvo takes out the three victims in the elevator.
- Devil in Disguise: When Lou and Malvo's exchange becomes increasingly hostile, the latter ends things by literally implying he's Satan.
- Dirty Coward: Believing his shop isn't safe, Lester sends his wife in to retrieve his things, dressing her in his Iconic Outfit to boot. He witnesses her death from the parking lot across the street.
- Failed a Spot Check: It's not as noticeable, but once again Pepper and Budge were right next to Malvo while he walked out of the diner and had no idea.
- Flirtatious Smack on the Ass: Malvo gives one to his fiancee early on.
- Fox-Chicken-Grain Puzzle: Discussed by the two FBI agents.
- Iconic Outfit: Lester's puffy orange coat proves to be this when Malvo executes Linda believing her to be Lester. This, of course, was Lester's plan all along to test the waters and see if it was safe to go inside.
- It's a Small World, After All: What are the chances for Lester and Malvo to meet in Las Vegas?
- It's Personal: Malvo throws half a year of work and a bounty of $100,000 away just so he can finish business with Lester.
- I've Come Too Far: Lester says this in the elevator to explain why he can't let Malvo get away.
- May–December Romance: Jemma must have a thing for older men, as she was played by the 30-year-old Helena Mattsson and engaged to Lorne Malvo, played by the then-58-year-old Billy Bob Thornton.
- Missed Him by That Much: How both Molly and the FBI agents miss Malvo at the diner.
- Never My Fault: Once again, Malvo tries convincing Lester that a murder he performed directly was more on Lester than him. Though in all fairness, Lester has become quite a horrid person that you really don't give a crap.Malvo: (after executing three people in an elevator) That’s on you.
- Nightmare Fuel: Malvo provides this in-universe to two boys at Lester's old house. They won't look at the basement the same again.
- Previously on…: Once again opens with an "Erstwhile on Fargo," likely due to the Time Skip and encroaching finale.
- Tap on the Head: Subverted; Lester attempts this by bludgeoning Malvo with his award. Malvo remains conscious and only responds with an annoyed "Geez, Lester..."
