This movie has eluded me for decades. I watched this movie as a youth in the early 80's, but I remember the style of the movie being that of the 70s. Here is what I remember. There was a man in a control room sitting in a chair. You only ever saw his arm or hand activating buttons or levers on a control panel. In the center of the control panel was a large screen where this person watched the events happening. The event that was happening took place in a lush forest. There were two characters in the forest, a human man and a reptilian, bipedial creature. The story seemed to be that the man in the control room placed the other man in this forest so that he could remotely watch this one on one hunt. In one of the final scenes, the human and the reptile engage in hand to hand combat on a raised log across a river of lava.
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The story as the questioner has described sounds exactly like the plot of an Outer Limits episode from 1964 called "Fun and Games." In it a lone human protagonist is pitted against a reptilian opponent and the ending involves the lizard creature attempting to kill the protagonist on a log in a lava flow.
As with the Star Trek: TOS episode named Arena, this programs seems to have drawn inspiration from The Frederick Brown story of the same name