Al Haddin is a 14 year old who lives with his widowed mother Janet and his alcoholic grandfather Jeremiah in Miami, Florida.

Al's mother works in nightclub owned by Monty Siracusa, a local mobster boss who runs a citywide protection racket.

Al begins to use the genie's power to fulfill some of his most eager wishes: beating up a bully and his gang, winning the affection of Patricia, his long-time crush, and riding in a real Rolls-Royce, something his late father had always dreamed of.

The pair proceeds to the Bermuda Triangle, where the Genie prepares to sink the lamp into the depths of the sea to prevent his powers from being abused.

With the reward money from Siracusa's capture, the Haddins buy the nightclub and celebrate its reopening, with the Genie staying with them as a normal human being.