Having reached or been granted one last or final opportunity to get, have, do, or achieve something. Hurry and book your flights today—you're at the last chance saloon for the cheapest tickets in town! Little did they realize they'd been drinking at the last chance saloon, soon to have their entire industry in crumbles and under government regulation. The team's manager has found himself at the last chance saloon at this stage; if they can't secure a victory tonight, we'll be seeing his resignation in the morning.