<?xml version="1.0" encoding="utf-8" standalone="no"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
  <periodOfReport>2003-06-17</periodOfReport>
  <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000725549</issuerCik>
        <issuerName>MANDALAY RESORT GROUP</issuerName>
        <issuerTradingSymbol>MBG</issuerTradingSymbol>
  </issuer>
  <reportingOwner>
    <reportingOwnerId>
            <rptOwnerCik>0000946468</rptOwnerCik>
            <rptOwnerName>ENSIGN MICHAEL S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>1</isDirector>
      <isOfficer>1</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
      <officerTitle>COB, CEO and COO</officerTitle>
    </reportingOwnerRelationship>
  </reportingOwner>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>100</value>
      </transactionShares>
      <transactionValue>
        <value>33.55</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
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      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4597350</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>300</value>
      </transactionShares>
      <transactionValue>
        <value>33.56</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4597050</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
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    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>400</value>
      </transactionShares>
      <transactionValue>
        <value>33.59</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4596650</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
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    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>350</value>
      </transactionShares>
      <transactionValue>
        <value>33.60</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
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    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
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      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>50</value>
      </transactionShares>
      <transactionValue>
        <value>33.58</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
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      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4596250</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
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      <transactionCode>S</transactionCode>
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    <transactionTimeliness>
      <value/>
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    <transactionAmounts>
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      </transactionShares>
      <transactionValue>
        <value>33.58</value>
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      <transactionAcquiredDisposedCode>
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      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4596200</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
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        <value>50</value>
      </transactionShares>
      <transactionValue>
        <value>33.58</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
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      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4596150</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
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    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
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      </transactionShares>
      <transactionValue>
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      </transactionValue>
      <transactionAcquiredDisposedCode>
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    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4595900</value>
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    <ownershipNature>
      <directOrIndirectOwnership>
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      </directOrIndirectOwnership>
    </ownershipNature>
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  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
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    <transactionCoding>
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    <transactionTimeliness>
      <value/>
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    <transactionAmounts>
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      <transactionValue>
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      <transactionAcquiredDisposedCode>
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    <postTransactionAmounts>
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    <ownershipNature>
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  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
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    <transactionTimeliness>
      <value/>
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      <transactionAcquiredDisposedCode>
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    <ownershipNature>
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  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
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    <transactionTimeliness>
      <value/>
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    <transactionAmounts>
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      <transactionValue>
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    <postTransactionAmounts>
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  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
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    <transactionDate>
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(.01 2/3 par value)</value>
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    <transactionDate>
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  <nonDerivativeSecurity>
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      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
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    <transactionTimeliness>
      <value/>
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      <transactionValue>
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    <postTransactionAmounts>
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    <ownershipNature>
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  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
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    <transactionDate>
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    <transactionTimeliness>
      <value/>
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      <transactionValue>
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    <postTransactionAmounts>
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    <ownershipNature>
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      <value>Common Stock
(.01 2/3 par value)</value>
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    <transactionDate>
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      <value/>
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(.01 2/3 par value)</value>
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    <transactionDate>
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    <transactionTimeliness>
      <value/>
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(.01 2/3 par value)</value>
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    <transactionDate>
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      <transactionCode>S</transactionCode>
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    <transactionTimeliness>
      <value/>
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(.01 2/3 par value)</value>
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    <transactionTimeliness>
      <value/>
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(.01 2/3 par value)</value>
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    <transactionDate>
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    <transactionCoding>
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      <transactionCode>S</transactionCode>
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    <transactionTimeliness>
      <value/>
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    <transactionAmounts>
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      </transactionShares>
      <transactionValue>
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      <transactionAcquiredDisposedCode>
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    <ownershipNature>
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    </ownershipNature>
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(.01 2/3 par value)</value>
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    <transactionDate>
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      <transactionCode>S</transactionCode>
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    <transactionTimeliness>
      <value/>
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      <transactionAcquiredDisposedCode>
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      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>550</value>
      </transactionShares>
      <transactionValue>
        <value>33.61</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4592400</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
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      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
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    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>50</value>
      </transactionShares>
      <transactionValue>
        <value>33.61</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4592350</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
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      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
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    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>100</value>
      </transactionShares>
      <transactionValue>
        <value>33.61</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
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    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4592250</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>100</value>
      </transactionShares>
      <transactionValue>
        <value>33.62</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4592150</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>500</value>
      </transactionShares>
      <transactionValue>
        <value>33.65</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4591650</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>200</value>
      </transactionShares>
      <transactionValue>
        <value>33.65</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4591450</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>350</value>
      </transactionShares>
      <transactionValue>
        <value>33.64</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4591100</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>100</value>
      </transactionShares>
      <transactionValue>
        <value>33.62</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4591000</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock
(.01 2/3 par value)</value>
    </securityTitle>
    <transactionDate>
      <value>2003-06-17</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>250</value>
      </transactionShares>
      <transactionValue>
        <value>33.64</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>4590750</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <ownerSignature>
    <signatureName>/s/ Michael S. Ensign</signatureName>
    <signatureDate>2003-06-19</signatureDate>
  </ownerSignature>
</ownershipDocument>

