Forty game centres were targeted, with 700 officers from the Police Force’s Organised Crime & Triad Bureau Immigration Department sent out to make the arrests.
A total of 221 men and 46 women were arrested, between the ages of 16 and 76.
Of those arrested, 72 men and eight women were from Nepal, India, Pakistan, Bangladesh, the Philippines, Indonesia and Egypt; 18 were asylum seekers.
Twenty three card reading machines, HK$900,000 in cash ($114,654) and illegal drugs were seized by police officers.
Additionally, 440 gambling machines were located and taken away.
The bureau had sent undercover officers to pose as gamblers and collect information about the centres for six months leading up to the arrests.
Gamblers would buy cards and exchange game points for cash, which is illegal in Hong Kong.