Sept 21 (Reuters) - British gambling firm Entain (ENT.L) said on Tuesday that U.S. fantasy sports betting company DraftKings (DKNG.O) had made a takeover proposal that valued it at $22.4 billion. Under its current proposal, DraftKings plans to offer 28 pounds per Entain share, representing a premium of 46.2% to the UK firm"s Monday close. Entain said it had earlier rejected a proposal from DraftKings to buy the company at 25 pounds per share. Entain"s shares closed up 18% as the companies confirmed the approach, which would give the U.S. firm access to the Ladbrokes Poker and bwin online betting brands. Shares of DraftKings fell more than 5%. DraftKings" takeover proposal comes after Entain had rejected an $11 billion offer from U.S.-based MGM Resorts International (MGM.N)in January, saying it undervalued the company, but analysts expect MGM to return with a new bid as it has since accumulated more cash. read more Sept 21 (Reuters) - British gambling firm Entain (ENT.L) said on Tuesday that U.S. fantasy sports betting company DraftKings (DKNG.O) had made a takeover proposal that valued it at $22.4 billion. Under its current proposal, DraftKings plans to offer 28 pounds per Entain share, representing a premium of 46.2% to the UK firm"s Monday close. Entain said it had earlier rejected a proposal from DraftKings to buy the company at 25 pounds per share. Entain"s shares closed up 18% as the companies confirmed the approach, which would give the U.S. firm access to the Ladbrokes Poker and bwin online betting brands. Shares of DraftKings fell more than 5%. DraftKings" takeover proposal comes after Entain had rejected an $11 billion offer from U.S.-based MGM Resorts International (MGM.N)in January, saying it undervalued the company, but analysts expect MGM to return with a new bid as it has since accumulated more cash. read more Entain and MGM already have a joint venture called BetMGM, an online sportsbook for betting on NFL and NBA games that controls about 21% of the market versus DraftKings" 17%, according to RBC Capital Markets. Any deal in which Entain would own a competing business in the United States would require MGM"s consent, MGM said on Tuesday in response to DraftKings" approach. The deal frenzy in the online gambling space comes at a time when regional operators are looking to expand and capture opportunitiesin states across the United States opening up to sports betting. In a transatlantic deal, Caesars Entertainment (CZR.O) acquired Britain"s William Hill, a traditional rival to Entain"s Ladbrokes brand, in a 2.9 billion pound transaction earlier this year. Caesars is selling the non-U.S. assets of William Hill. read more Demand for online betting boomed during the pandemic as customers took to playing from home when casinos and betting shops were off-limits. DraftKings, which allows users to enter daily and weekly fantasy sports-related contests, confirmed it had approached Entain but did not provide any additional details. It bought rival Golden Nugget Online Gaming Inc (GNOG.O) in a $1.56 billion all-stock deal last month. Entain said DraftKings has until Oct. 19 to make a firm offer for the company. ($1 = 0.7320 pounds)