The new digital sports betting platform will be available for download starting with 12 January, just ahead of some important sports events.
The Sahara Las Vegas and Grand Sierra Resorts are owned by Alex Meruelo, who acquired a majority share of the Coyotes in 2019.
SaharaBets President Andrew Patterson said: "SaharaBets brings the excitement and reputation of the iconic Sahara Las Vegas to sports fans here in Arizona. As the sports betting landscape continues to evolve in the Valley, SaharaBets looks forward to collaborating with the Coyotes organisation to engage and interact with sports fans in a fun and unique way."
Coyotes President and CEO, Xavier A. Gutierrez, added: "The Coyotes are dedicated to providing innovative and entertaining experiences for our great fans. Our partnership with SaharaBets will offer next-level gaming experiences for fans who want to unleash their competitive spirit."
Since sports betting was legalised in Arizona, numerous major professional sports teams have announced sports betting partnerships.
DraftKings and the PGA Tour have signed an agreement to open a sportsbook at TPC Scottsdale; FanDuel followed the example and announced it would open a retail sportsbook at former Phoenix Suns Arena (which was rebranded as Footprint Center).
The Arizona Diamondbacks have signed a deal with Caesars to open a sportsbook outside of Chase Field.
The Arizona Cardinals also signed a partnership deal with BetMGM to launch a sportsbook at State Farm Stadium, while Bally’s and the WNBA’s Phoenix Mercury announced a 15-year agreement.