Sports betting operator SaharaBets has announced its withdrawal from the Arizona market, attributing its exit to the disbandment of its licensing partner, the Arizona Coyotes. The franchise’s departure left SaharaBets with no option but to cease operations in The Grand Canyon State.
The Coyotes’ exit followed owner Alex Meruelo’s failure to secure a new arena, leading to the sale of the team to Utah Jazz owner Ryan Smith. The team has since been rebranded as the Utah Hockey Club, severing its ties to Arizona.
Without a licensing partner, SaharaBets immediately halted its operations in Arizona. The company stopped accepting wagers and requested players withdraw their funds before August 8. SaharaBets communicated via social media platform X, stating that withdrawals would be processed during normal banking hours, taking 1-2 business days. Customers with questions were encouraged to contact customer support.
SaharaBets expressed gratitude to its loyal customers. Launched in Arizona in January 2022, SaharaBets had ambitious plans for both the state and the broader US market. However, the brand struggled to gain significant traction. According to the Department of Gaming’s April revenue report, SaharaBets ranked 14th out of 17 betting operators in terms of handle, taking $900K in bets, a fraction of what its main competitors achieved. The highly competitive Arizona betting market posed a substantial challenge to SaharaBets’ growth ambitions.
Meruelo relinquishes rights to Arizona Coyotes
Meanwhile, Alex Meruelo, who also owns Sahara Las Vegas, failed to secure an agreement for a new stadium, prompting the franchise’s relocation. Despite retaining the naming rights and history of the Arizona Coyotes, Meruelo could theoretically reboot the team if a new stadium is secured by 2029.
However, reports indicate that Meruelo may no longer be interested in pursuing arena options. Recent reports suggest that he has relinquished his rights to the franchise, casting doubt on any potential revival of the Coyotes in Arizona.
