James Packer says he should never have fought David Gyngell

Mr Packer and his long-time friend Mr Gyngell were photographed brawling in the street outside his multimillion-dollar Bondi Beach home in May last year. Mr Gyngell has since taken full responsibility.

The slightly jetlagged casino mogul opened up on that incident and plenty more at a small media gathering for breakfast on Tuesday, having held an earlier 7am catch-up with Mr Gyngell at a hotel in Sydney.

"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."

Speaking candidly about his personal and business successes and failures, Mr Packer said: "In 2007, I spent a shitload of money, but despite my foray into Vegas being a disaster, my investment in Macau has paid off."

Brimming with enthusiasm about a new cyber venture, Packer also reflected on his investments over the past 15 years.

"I think I've started five or six start-ups of $1 billion-plus [but] in some cases I sold too early, but you can't always get your timing perfect."

Unlike most business leaders who remain non-committal on Australian politics, Mr Packer was happy to say that Prime Minister Tony Abbott is "doing a very good job, has done a super job".

But he was less glowing about the US government's nuclear deal with Iran, describing it as "the stupidest thing I've seen in my life".

Mr Packer is creating a new business in what he believes to be a booming new industry of cyber security, teaming up with Hollywood producer Arnon Milchan.

During a very brief visit to Australia this week, Mr Packer said the 50:50 joint venture investment would offer a more holistic service that would amalgamate what is being done in software and consulting.

While Mr Packer has ambitious plans for the venture, he made it clear that unlike his casino empire, the fledgling cyber security company would be capital-lite rather than requiring huge amounts of cash.

"We want to provide services in four buckets - government, financial services companies, utilities and the rest," he said.

Mr Packer's value-add in this industry is his particularly close relationship with Israel and its leaders - a country in which he now has a residence. (Packer has a particularly close relationship with Prime Minister Benjamin Netanyahu, who is also his next-door neighbour.)

"The IT sector in Israel has emerged as a hub for innovation and start-ups in technology related services.  Israel now has the highest start-ups per capita in the world and this will provide major opportunities in the future. These are relatively small investments, but they have tremendous potential given how quick the IT sector is developing globally," said Mr Packer, who has hired former top-ranked investment banker Rob Rankin to head the privately owned CPH.

In Australia, this ambition is intensely focused on the development of Sydney's Barangaroo casino project, which (on a cost per room basis) will be the most expensive ever built.

Ten days ago, Packer's Crown Resorts lost its bid to develop a casino in Brisbane but the billionaire's proposal was highly conditional compared with that of the winning tenderer, Echo, which Packer concedes is a worthy competitor.

Although Crown would like to have been successful in Queensland, Packer admits he has probably outlaid too much on capital expenditure - having built casinos in Manila, Macau and with plans to add Japan and Sydney.

Packer's Macau casino company, Melco Crown, has been hit by a slump in gaming revenues at the world's largest gambling hub due to a corruption crackdown and slower growth in China's economy.

"I've spent an enormous amount of capex over recent years, but I am trying to build a global network of iconic resorts to show the world the quality of our luxury brand," Mr Packer said.

For the foreseeable future, casinos will remain Mr Packer's biggest investment - with the earnings from the flagship Melbourne and Perth casinos providing the steady reliable cash flow to fund new developments.

His broader plan is to leverage the upmarket Crown-brand network of casinos and properties around the world to encourage loyalty from wealthy gamblers - much like any frequent-user loyalty program.

To add to this allure, Packer duchesses numerous celebrities - particularly those from Hollywood - to add to the glamour of his establishments. His most recent romantic interest is singer Mariah Carey.