Stroheim and Preminger are playing an early version of the board game Risk. However they are playing it like it's some kind of variation of the game Monopoly. What's more is that when they show the game board the Risk logo is covered up by a cartoon drawing of an animal.
The title is a take on the play/movie 'Zorba the Greek'
The characters of Stroheim and Preminger are named after the Oscar winning directors Erich von Stroheim and Otto Preminger.