Billionaire James Packer has made up with best mate David Gyngell

“I SHOULDN’T have punched Gyngell.” Billionaire casino tycoon James Packer breaks his silence over that brawl.

THE dramatic rift between two of Australia’s most powerful businessmen has finally mended, closing the chapter on that infamous Bondi biffo.

Billionaire James Packer yesterday expressed regret over the very public brawl, where he wrestled best mate and Nine Entertainment Co boss David Gyngell to the ground in a headlock.

In his first public comments about the “regrettable” clash, which made headlines in May last year, Mr Packer confirmed the pair’s friendship was on the mend.

The casino mogul was speaking at a business breakfast when he admitted the fight — described at the time as a “David and Goliath battle”, and captured in dramatic images that were beamed around the world — had been a mistake, Fairfax Media reports.

“I should have never have punched [Mr] Gyngell outside my house,” he said.

“I’ve made a bunch of mistakes, but in a business sense, I’ve had a go more than anyone else I’ve known.”

The explosive brawl captured headlines around the world.

The long-time friends, who have known each other since school and acted as best men at each other’s weddings, are reportedly in close contact again, with Mr Packer saying of his mate: “He’s my closest friend and I love him.”

And the feeling was mutual, with Mr Gyngell telling The Daily Telegraph: “He was always like a brother to me. We were never not going to be close.”

The incident outside Mr Packer’s $22 million Bondi Beach home dominated the news headlines for days, with speculation rife over the cause of the punch-on.

It eventually emerged that an angry text fired off by Mr Packer, demanding a Channel Nine news truck be moved on from outside his house, ignited the brawl — although Mr Gyngell later admitted to throwing the first punch.

Mr Packer had only just landed back in Australia, and rumours were rife that he had plans to catch up with supermodel Miranda Kerr.

Whatever the cause of the dispute, exclusive photographs captured the moment Mr Packer, his face red with rage, neck veins bulging and jaw clenched, threw at least three punches, while still grasping his BlackBerry in one hand.

Mr Gyngell, in bare feet and with grizzly beard, dodged the blows and let fly with a series of punches to Mr Packer’s head.

All’s well that ends well: David Gyngell says James Packer is ‘like a brother’. Picture: David Moir

The pair’s relationship had reportedly hit a rocky patch after Mr Gyngell questioned his friend’s decision to divorce his second wife, Erica Baxter, two years ago.

Mr Gyngell was also said to have talked down Mr Packer’s chances of winning approval for his $2 billion casino planned at Sydney’s Barangaroo.

With that project edging closer to success and romance blossoming between Mr Packer and singer Mariah Carey, the gripe is all but forgotten.

Meanwhile, the businessman is forging ahead with plans for a new cyber security business being plotted from his new base in Israel, where Mr Packer has set up residence in a move aimed at giving him more time in the United States.

Originally published as Billionaire James Packer has made up with best mate David Gyngell