It is shown that, in the three-dimensional lattice gravity defined by Ponzano and Regge, the space of physical states is isomorphic to the space of guage-invariant functions on the moduli space of flat SU(2) connections over a two-dimensional surface, which gives physical states in the ISO(3) Chern-Simons gauge theory. To prove this, we employ the q-analogue of this model defined by Turaev and Viro as a regularization to sum over states. A recent work by Turaev suggests that the q-analogue model itself may be related to an Euclidean gravity with a cosmological constant proportional to 1/k2, where q = e2-pi-1/(k + 2).