The Young and the Restless recap for Wednesday, August 7 brings investor woes for Phyllis. Plus, Billy sees what he must do, Adam calls Rey to report an assault, and Chelsea prepares for Connor's arrival.
Adam (Mark Grossman) decided to report Nick's (Joshua Morrow) assault. He got Rey (Jordi Vilasuso) to stop by the penthouse and then walked Sharon (Sharon Case) downstairs and proclaimed she was starving. Rey realized Sharon stayed the night and left in disgust. Sharon freaked out on Adam even though he claimed that he did not set that meeting up between Sharon and Rey. Adam said that he loves Sharon, but she pointed out that he recently tried to reunite with Chelsea (Melissa Claire Egan). Adam insisted that he only did that because of Connor. However, Sharon let Adam know that she's a healthier person now and she made a mistake sleeping with him, and then she left.
Elsewhere, Chelsea told Nick that Connor and Anita (Catherine Bach) will arrive tomorrow. She worried about whether or not to tell Connor that his dad Adam is alive. Then Nick left to see Nikki (Melody Thomas Scott), and Phyllis (Michelle Stafford) stopped by to see Nick. Since Nick wasn't there, Phyllis and Chelsea verbally sparred with each other about who is the bigger loser.At Chancellor mansion, Billy (Jason Thompson) lied to Victoria (Amelia Heinle) about work. Instead, he called out for Delia. He asked Delia or whoever was contacting him to tell him what they wanted. Billy recalled Delia playing and laughing, and then he fell asleep. He dreamed of searching frantically for his daughter while she said she was so cold. When Billy woke up, the writing on the wall said, "Stop Adam Now." Billy lied to Victoria again about work, and he told Delia he knows exactly what to do.
Phyllis asked Devon (Bryton James) to invest with her on The Grand Phoenix Hotel, but he declined since he's already working with Nick on New Hope. Next, Phyllis asked Nick, but he let his ex-wife know that he didn't take back all the Dark Horse portfolio. Phyllis didn't love hearing that Newman Enterprises will benefit from her hard work. Then, Phyllis desperately turned to Nikki (Melody Thomas Scott). While Nikki appreciated Phyllis's recent actions toward Nick, she decided not to go in on the hotel with Phyllis. Nikki did, however, give Phyllis some advice. She told the younger woman that making amends is never a mistake.