Police in Sydney are now investigating the brawl between lifelong friends Casino Mogul James Packer and David Gyngell, ABC reported.

The casino mogul stands to lose more than his reputation if his involvement in the brawl stymies his bid to expand his casino interests into Japan and Sri Lanka.

Stephen Mayne from the Australian Shareholders' Association has told The World Today he thinks that Nine Entertainment boss David Gyngell may end up losing his job in order to save James Packer's reputation. The pictures of Packer's brawl with David Gyngell were widely carried in international media yesterday.