This event is a one way race on a strip of road in Red Canyon against Samurai Goroh. This race is pretty straight forward; Get to the end before Goroh. At the beginning he'll get a massive headstart. Do not boost. The only things you have to worry about are rocks and falling off the edge. Try to avoid the rocks, since they cause about 25% damage.
Another thing to remember is that Goroh has infinite energy and boosts. You should make sure to save enough boosts for the final stretch. The only things that vary in difficulty are the rocks that fall and the speed of the Samurai.