This page of the Saints Row guide describes side activities from the Side Hustles category available in the Old Town West district. Each of them has its own goals that must be met to receive the reward.
Reward: Depends on the rating.
This quest is available in the southern part of the West Old Town region. Your mission is to go to the place indicated on the map and rate the Lasso Lounge. The lower the rating, the more opponents and the better the reward. You just need to protect your rating by eliminating the enemies and survivng. Afterwards, you will be rewarded with money and XP.