The Tropicana has seen some tough times recently. Their former parent company Columbia Sussex Corp basically ran the casino into the ground, which led to the loss of their gaming license in December.

Since then the Trop has been run by former NJ Supreme Court justice Gary Stein, who is charged with finding a buyer for the casino. Stein is evaluating several bids for the casino, but doesn’t think any of the offers are competitive considering the value of the casino, hotel and the Quarter, Trop’s nightlife/entertainment complex.

Exact figures have not been released, but according to the Associated Press Stein called the bids “unreasonably low.”

Yesterday Stein asked for an extension of 120 days to throw out all the current bids and restart the process of soliciting new bids. The Casino Control Commission will make a decision on this issue later this month.