You don't say how you're trying to install it, but your system (file manager?) seems to be thinking that it's a text file and trying to open it with gedit, a text editor. however, .bin files are binary files, pre-compiled programs. You probably just need to change the permissions to make it executable, then run the program (best done through a console, at least at first).
FYI, there are quite a few previous threads asking this same question. Several are featured at the bottom of this page.