Japan's Universal says former chairman Okada arrested in Hong Kong

TOKYO (Reuters) - Japanese gaming group Universal Entertainment Corp <6425.T> said on Monday its former chairman Kazuo Okada was arrested in Hong Kong in relation to multiple corruption-related offences.

Okada is currently released on bail, said the company, which makes Japanese-style slot machines and operates a casino in the Philippines.

The Japanese billionaire was ousted from Universal's board last year, with the board accusing him of misappropriating $20 million in funds.

(Reporting by Ritsuko Ando; Editing by Chang-Ran Kim)