The Legerdemain Lounge is an inn/tavern located in the northern quarter of Runeweaver Square in Dalaran, with entrances facing both the Magus Commerce Exchange and Sunreaver's Sanctuary. The lounge consists of two floors, and a balcony overlooking the northern area of the city. It is staffed by Amisi Azuregaze as Innkeeper, Arille Azuregaze tending bar and Sandra Barton as barmaid.
The upstairs area is called the Ledgerdemain Lounge (note the extra "d" in the name) leading to confusion over the name. A reason they named them two different names could be simply hearthing mechanics, as this inn contains two innkeepers, one on each floor.
In the November Issue of Kirin Tor Monthly, it describes an inn called the Hocus Pocus Inn alongside A Hero's Welcome and the Filthy Animal. As this inn does not exist in Dalaran, it may be an earlier name for the Lounge.
Legerdemain is actually an English word that comes from the French "légèreté des mains", meaning "lightness of hand", which is more commonly called "sleight of hand" in English. This refers to Dalaran being a city of magicians, since sleight of hand is an essential skill for real-world magicians who wish to perform convincing illusions.