I have encountered few anime with so much "BANG" in one episode. Although honestly in this case, am not a huge fan of all the shine and color. It was so blatantly trying to impress that at some point it felt that the episode had gone on for 30 minutes already. There were a lot of useless scenes, which showcased nothing but the environment or someone talking to someone else randomly.
The things we find out from episode one are:
Suoh Mikoto is a rival, and has the title of "the 3rd King". With him is a white haired lolita named Anna Kushina, and they belong to (if not head) HOMURA.
Isana Yashiro is considered the Main protagonist, and he's currently being targeted by both HOMURA and the so-called black dog, Yatogami Kurou.