The Most Dangerous Game has surprisingly well done effects for 1932, primarily because it was closely tied to King Kong.
"Most of the standing sets from King Kong (1933) were used in the making of this film, including the gate (which was eventually burned down in the "Burning of Atlanta" sequence of Gone with the Wind (1939)). This film and "King Kong" were shot at the same time, though "Kong" was released later (probably due to the special effects required for it)."
http://www.tcm.com/this-month/article/176198%7C0/The-Most-Dangerous-Game.html
, "Dangerous Game, which began production on May 16, 1932, would overlap with Production No. 601: Kong, which began filming under the working title of The Beast. Cooper was shrewdly getting a double bang for his buck by using the Zaroff jungle set for the Skull Island scenes he was simultaneously shooting for the Kong test reel. The Dangerous Game set, built on Stage 12 at the RKO-Pathe lot in Culver City, included a swamp, a trail and a cave, the Malay deadfall trap, and a ravine bridged by a fallen tree, all of which could be rearranged to expand the illusion of a wild, rambling landscape...Orvillee Goldner and George Turner write that with The Most Dangerous Game, Cooper and Schoedsack reached an apotheosis in setting a "thrilling pace" that recalled Chang [1927] and was to become forever emblematic of the Cooper-Schoedsack style...Editor Archie Marshek recalled that during the filming, Schoedsack literally timed the actors to the second; a thirty-second scene in rehearsal might be speeded up to twenty for the final take. It would become the model for the cutting of King Kong."