He hides the cheque just before Valerie comes (she is in fact a French agent, who supplied the extra donation), but Le Chiffre and his men capture them. Valerie disappears, and Bond returns to his room after dealing with a henchmen using a gun disguised as a cane. Bond is beaten by Le Chiffre, but then gets an extra donation, with which he cleans out the 'toad'-like villain. Bond is told if he wins, Valerie will die.
The next night at the casino the game takes place.