Csardas Princess at The Israeli Opera House

Act I The Orpheum Cabaret, Budapest
The guests at the Orpheum Cabaret are celebrating the final appearance of their singing star, Sylva Varescu, before her departure on a tour of America. After the performance Sylva celebrates with two older admirers, Count Boni and his friend Feri as she eagerly awaits the arrival of the man she loves, Prince Edwin Ronald von und zu Lippert-Weylersheim. Edwin, who is under pressure from his family to abandon this unsuitable liaison with a cabaret singer and return to Vienna, arrives and is not willing to lose Sylva, yet he receives a letter demanding him to report to his regiment in Vienna. Edwin makes up his mind and before returning to Vienna he and Sylva sign a document binding them to marry each other within two months. Sylva decides to cancel her American tour. Unknown to Edwin his parents have already announced the betrothal of Edwin to Countess Anastasia (Stasi). When Sylva finds this outs, she assumes that Edwin has cheated her and decides to fulfill her American contract accompanied by Boni as her manager.

Act II Prince Leopold's residence near Vienna.
Prince Leopold and Princess Anhilte (Edwin's parents) are holding a ball announcing the official betrothal of Edwin and Stasi, yet the two are far from happy with the idea. Edwin, who has never understood why Sylva deserted him, is still desperately hoping for news from America. Suddenly two unexpected guests arrive - Sylva and Boni. She has cut short her tour and persuaded Boni to bring her to the ball, pretending that they are now married to each other. Edwin is livid with Boni for his apparent treachery and also accuses Sylva of betraying him, however Edwin and Sylva are still in love and soon enough it is obvious that Stasi and Boni fall for each other and are happy with each other's company. Edwin persuades Sylva that she should divorce Boni but Sylva needs to be accepted as Sylva Varescu, cabaret singer, not the ex-wife of a Count whom she hasn't actually married. When the Prince makes an official declaration about Edwin and Stasi's engagement, Edwin announces that he loves Sylva. But she is not willing to be announced as anyone else than who she really is, the cabaret singer from Budapest, and leaves the ball with anger.

Act III The foyer of the Holzberg Hotel, Vienna, later the same night.
Sylva and Boni return to their hotel, where they find their older friend Feri and the dancing girls from the Orpheum. Edwin follows, looking for Sylva, followed in turn by his angry father. Boni declares that he wants to marry Stasi and she of course accepts. Yet Prince Leopold still rejects his son's liaison with a cabaret singer. But when by mere coincidence he realizes that long ago his own wife has also been a cabaret singer, he no longer can refuse. And so the two pairs of lovers are reconciled. All's well that ends well.