Lorentzian simplicial quantum gravity is a non-perturbatively defined theory of quantum gravity which predicts a positive cosmological constant. Since the approach is based on a sum over space-time histories, it is perturbatively non-renormalizable even in three dimensions. By mapping the three-dimensional theory to a two-matrix model with ABAB interaction we show that both the cosmological and the (perturbatively) non-renormalizable gravitational coupling constant undergo additive renormalizations consistent with canonical quantization. (C) 2003 Published by Elsevier B.V.