The story takes place on an unnamed casino planet owned by Lando, the Millennium Falcon (before Lando lost it to Han Solo in a card game), and on board the Imperial Star Destroyer Malfeasance.
This is a continuing side-story of the last of the Galactic Alliance's armed forces trying to survive in the Sith dominated New Galactic Empire by acquiring a new and powerful Star Destroyer from the massive shipyards of the Mon Calamari's homeworld of Dac which is under Imperial control.
Each planet confers different advantages to its owner, even though some bonuses are specific to each faction (for example, controlling Kuat reduces the price of Imperial Star Destroyers by 25 percent).
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The same custom is often followed in fiction: the Constitution-class cruiser is the basis for the Enterprise of Star Trek (although in Star Trek the term pathfinder is also occasionally used in lieu of lead ship) and the Imperial-class Star Destroyer appears in Star Wars.
The game begins with Rookie One's training, followed by an attack on the Star Destroyer Devastator, after its capture of the Tantive IV in the events of the film.