From my little experience with gacha games, I think I know what happened with WWE Champions.
I don't think Phil is still playing actively, just the bare minimum. He logs to keep his daily login streak, maybe does some events here and there to qualify for some basic reward (assuming that's how Champions works with events) and maybe checks the store to see if there's any offers, but beyond that I don't think he keeps whaling hundreds of dollars every week. At least that's how my experience with those games went, you kinda don't want to keep playing but hope one day you will again so you keep logging and getting the event rewards hoping for the day you return. At least by design, those games don't let you go so easily, so that's my guess with Phil and WWE Champions.
He definitely has moved on to a new gacha and is whaling hard on it, but I guess we'll never know unless he fucks up and shows it by accident or the second bankruptcy reveals it. He's begging even harder now and we know Phil is allergic to saving, so there's something else hogging the Champions fund. All I hope is that it's another Scopely game. All I know is that it's not something like FGO, Genshin or Umamusume, too much gameplay for Phil and not enough shirtless men.