An application for four men to buy the Golden Hotel in Las Vegas for $625,000 is recommended for approval on January 16, 1969 by the Nevada gaming control Board.
Richard Golden, Italo Ghelfi, Robert F. Picardo, and Louis A. Navone would each hold 25% interest in the hotel, formerly the Elwell. Ghelfi,, Picardo and Navone are stockholders in the Golden Gate casino.
The application comes up for final approval January 21, 1969.
{Las Vegas Sun January 17, 1969}
In 1984 the Golden Nugget bought the Golden Hotel and had it torn down to build a parking garage for their property.