Greg Owen fired Coventry ahead on 12.27, assisted by Jon Weaver and Greg Chambers but four and a half minutes later, a powerplay goal from Dominc D'Amour had the Panthers level.
The second period belonged to Nottingham with David Clarke firing the home side ahead on 29.20 with Sean McAslan adding a third on 31.03. McAslen then turned provider to set up Corey Neilson for a fourth on 36.55.
Kevin Bergin made it 5-1 with another powerplay goal, three minutes and seven seconds into the third period.
Two goals from Greg Owen, assisted by Luke Fulghum and Adam Calder on
48.41 and Derek Campbell on 51.31, assisted by Adam Calder and Greg Owen gave the Blaze some hope.
However, Nottingham struck through Cameron Mann on 54.17 and Sean McAslan with a powerplay goal on 56.44 with Brad Cruickshank scoring assisted by Russ Cowley and Tom Watkins to give Nottingham a 7-4 victory.
This means Sunday night's home game against Sheffield Steelers, who lost 3-2 at home to Hull Stingrays tonight at the Sky Dome is massive. Tickets for the game are available.