Located about 12.5 miles (20.1 km) northwest of downtown Phoenix, the arena was built east of Arizona Loop 101 (Agua Fria Freeway) and on the north side of West Maryland Avenue at a cost of $220 million.

The arena floor was barely large enough to fit an NHL regulation size hockey rink and some seats on the upper level hung over the boards.

The National Lacrosse League's Arizona Sting hosted the first sporting event in the arena, a 16–12 2004 NLL season opening victory against the Vancouver Ravens on December 26, 2003.

[9] Two years after their move, it was discovered through a report in April 2024 that the team management did not bother to collect their belongings bearing the Coyotes branding, including Shane Doan's jersey retirement banner.

A string of concerts in the arena’s inaugural year included performances by Prince, Rod Stewart, Toby Keith, Britney Spears, and Usher.

Since then, other acts performing there included U2, RBD, Elton John, The Rolling Stones, Paul McCartney, Bruce Springsteen, Rage Against the Machine, Billie Eilish, Kenny Chesney, Mötley Crüe, Justin Timberlake, Katy Perry, The Eagles, Taylor Swift, The Weeknd, Harry Styles, Celine Dion, Coldplay, Eric Church, Justin Bieber, Kendrick Lamar, Ed Sheeran, Shawn Mendes, Sam Smith, Bon Jovi, Khalid, Madonna, Pearl Jam, Red Hot Chili Peppers, Usher, John Mayer, Tim McGraw, Faith Hill, The Killers, and For King & Country.

The arena has hosted the traveling family-oriented shows Radio City Christmas Spectacular, Sesame Street Live, the Harlem Globetrotters and Cirque du Soleil.

[13] With it, the Gila River community became the first federally recognized Native American tribe to hold a naming rights deal with a venue for one of the major professional sports leagues in the United States and Canada.