The Arena

[Assassin]

Hey, does anyone know if you can reenter the Arena? And if so how do you go about it?

[Dillinja]

I don't think it's possible mate, I tried and the guards just say how well you did and that

[P_a_l_a_d_i_n]

Nope. no arena reentering for you

--spoiler--
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You can however hero save when you have accumulated a lot of gold and experience HERO SAVE, and then reload the save and you will be able to redo the arena while having kept all the money+exp. you have earned when you did the hero save

[Mad Loco]

that i think is also a shame, the re-entries into the area could have become harder to do the more battle you fight, just having one thing, moving on and not being able to redo the arena battles as a side quest seems a bit unfair, i do think they tried to add to many of some things and not enough of others and so just added one of everything in...but still it could have stayed open to all.